{"id":19924,"date":"2011-03-04T09:45:51","date_gmt":"2011-03-04T14:45:51","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=19924"},"modified":"2011-03-04T09:45:51","modified_gmt":"2011-03-04T14:45:51","slug":"usdjpy-targets-the-84-50-level","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/03\/04\/usdjpy-targets-the-84-50-level\/","title":{"rendered":"USD\/JPY Targets the 84.50 Level"},"content":{"rendered":"

By Yan Petters<\/strong><\/p>\n

The USD\/JPY<\/a> pair has been range-trading for the past ten weeks, shifting between the 81.00 and the 84.50 levels. The pair recently reached a significant support level<\/a> yet failed to cross it. As a result, the USD\/JPY began climbing upwards, and still looks to reach higher. As several technical indicators<\/a> show, the pair has potential to reach as high as the 84.50 level.<\/p>\n

\u2022 The chart below is the USD\/JPY 1-day chart by ForexYard.
\n\u2022 It is clearly seen that the pair\u2019s trading was mainly characterized by ups and downs lately, without marking any real trend.
\n\u2022 The pair saw several failed attempts to breach through the 81.50 support level<\/a>. As a result, it bounced back up and is currently trading near the 82.50 level.
\n\u2022 A bullish cross on the Slow Stochastic<\/a> indicates that the bullish momentum has more room to go.
\n\u2022 The RSI<\/a> has recently crossed the 30-level and is still pointing upwards. This indicates that the bullish move could proceed.
\n\u2022 In addition, the MACD<\/a> looks to complete a bullish cross soon. If the bullish cross will indeed takes place, it could be used as further evidence that the upward movement will continue.
\n\u2022 The pair\u2019s next resistance levels<\/a> are located at the: 82.85, 83.50, 84.00 and the 84.50 level.
\n\u2022 The pair\u2019s next support levels are at: 82.30, 81.50 and 80.90.<\/p>\n

\"USD<\/p>\n

Forex Market Analysis provided by ForexYard. <\/a><\/strong><\/em><\/span>
\n<\/a><\/strong><\/em><\/p>\n

\u00a9 2006 by FxYard Ltd<\/p>\n

Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.<\/p>\n","protected":false},"excerpt":{"rendered":"

The USD\/JPY pair has been range-trading for the past ten weeks, shifting between the 81.00 and the 84.50 levels. The pair recently reached a significant support level yet failed to cross it. As a result, the USD\/JPY began climbing upwards…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-19924","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/19924","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=19924"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/19924\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=19924"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=19924"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=19924"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}