USDJPY Technical Analysis (23-27 February,2015) | February 21, 2015

Usdjpy has tested support level again. 118.25-118.40 is good support for this pair. This pair has rejected from this level many times. So this level will be good support zone for this pair. It also rejected from fibo 61.8% level. A bullish pin bar has been formed on this level. We can take buy entry from retrace. If we find this pair on this level again, then we can take buy entry and target will be 120 area. 119.40 level is acting as near-term resistance. So if it break this level, then we can expect more bullish rally on this pair.



Weekly Pivot, Support and Resistance

Resistance Two (R2): 120.02

Resistance One (R1): 119.46

Pivot Point: 118.84

Support One (S1): 118.28

Support Two (S2): 117.66