USDJPY Weekly Analysis (30 March-3 April, 2015) | March 28, 2015

Usdjpy has bounced back from support area again. 118.30 support level has become an important area for this pair. This pair has tested this level several times. Above this support level, we can get bullish movement on this pair. Last week, we saw bullish engulfing from that support level. So this candle indicates bullish signal on it. So with the retracement, we can go for buy on this pair. Target will be 121 area. Now it is facing little resistance at 119.40 area. So for bullish confirmation, this pair needs to break this level.


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Weekly Pivot, Support and Resistance

Resistance Two (R2): 121.01

Resistance One (R1): 120.05

Pivot Point: 119.18

Support One (S1): 118.22

Support Two (S2): 117.35