USDJPY Forecast for the week 14th of April 2014
Weekly Chart
- We have been trading between the 101-103 region for nearly two months now
- Approaching the ascending trendline
Daily Chart
- 101 level has been tested 4 times and if prices do test for the fifth time, I would be more bias for price to breach this level down to sub 100 level
- 102.50 would be a level to look out for sellers to push the market back down
- Ichimoku study seems to be in a bearish mode as the two lines are crossed also trading beneath the clouds
Hourly Chart
- Ichimoku lines are squeezed and possibly indicating some bullish action if prices move up further, however upside could be limited from clouds trendlines and fib levels from last weeks sell off.
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