USD/JPY Technical Analysis 21 August 2008

21 August 2008 @ 06:23 am EDT

USD/JPY 108.62 - 21 August

USD/JPY Open 110.52 High 110.27 Low 108.60 Close 109.86

The US Dollar descended significantly yesterday against the Japanese Yen dropping from Wednesday's top 110.27 to today's bottom 108.60, which are the first resistance and support levels respectively for the currency couple today. If the negative trend continues, next support further down is expected at 108.00, the break of which would open potential drop towards 107.40. In upward direction next resistance further up is expected at 111.00, followed by 111.75.

Technical resistance levels: 110.25 111.00 111.75

Technical support levels: 108.60 108.00 107.40

Trading range: 108.50 - 109.15

Trend: Upward

Buy at 108.62 SL 108.32 TP 109.02

Already made +50 pips profit on USD/JPY today from the following signal:

6:21 GMT+1 Sell USD/JPY at 109.34 SL 109.60 TP 108.84 TP reached at 7:24 GMT+1.

Total today +122, yesterday +103, as shown at www.zifx.com/performance.php

For more forex information, go to www.iForex.bg

E-Newsletters

We value your privacy. Your email address will not be shared.

Home
World
US
Economy
Companies
Tech
Science
Global Markets
Education
Real Estate
Forex
Commodities
Gold & Silver Matters
More Sections
Fashion
Auto
Travel
Health
Law
Entertainment
Sports
Luxury
Art
Books
Tech & Trend
Tools & Features
Topics
Blogs
Market Data
Stock Watch List
Investment Calculator
Financial Glossary
Broker Center
World Business Headlines
Updates
RSS Feeds
IBTimes on Twitter
IBTimes on Facebook
E-Newsletters
Services
Forex Newsfeed
Research
Press Release
About IBTimes
News Licensing
Media Kit
Advertise with Us
About IBTimes
Contact Us
Terms of Service
Privacy Policy