USDJPY Weekly Technical Outlook (2-6 March, 2015) | February 28, 2015

Usdjpy is maintaining its upward movement. It is following a uptrend line. After pin bar formed on support at 118.30, this pair is moving up. We can see more bullish movement on this pair. We need to buy from deep area in this pair and hold that buy for 100-150 pips take profit. When we will get any bullish sign during retrace, then we can buy on usdjpy. From the uptrend line, we can take buy entry. For buy entry, target will be 119.80 area. If it can break this resistance, then we can see more bullish rally on this pair.



Weekly Pivot, Support and Resistance

Resistance Two (R2): 120.54

Resistance One (R1): 120.05

Pivot Point: 119.33

Support One (S1): 118.84

Support Two (S2): 118.12