USDJPY Weekly Technical Analysis (9-13 March, 2015) | March 8, 2015

Usdjpy has broken its ranging zone. It has broken towards upside. More bullish rally can be expected on this pair. This pair has bounced back from the support at 119.40 area. It is also following a up trend line. So this pair is now on uptrend momentum. After NFP news, we saw bullish movement on this pair. Now we can look for buy entry on this pair. Near-termed support lies on 120.45 level. It can be buy area for this pair. Next buy zone is 119.90 area. So fro that buy zone, if we get any bullish candle on H1 or H4, we can take buy entry. Target will be 121.50 area.



Weekly Pivot, Support and Resistance

Resistance Two (R2): 122.38

Resistance One (R1): 121.60

Pivot Point: 120.48

Support One (S1): 119.70

Support Two (S2): 118.58