USDJPY Weekly Technical Analysis (11-15 May,2015) | May 9, 2015

Usdjpy has rejected from 120.50 resistance level. We saw a bearish rejection candle on daily chart and then this pair is falling. Last daily candle is also a rejection candle and it is like doji candle. It is indicating short term sell signal on this pair. We can sell on this pair below 120.50 resistance level. If it can break this level, then we can go for buy. But if we find bearish candle on that resistance level, then we can sell again on this pair.


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Weekly Pivot, Support and Resistance

Resistance Two (R2): 121.21

Resistance One (R1): 120.48

Pivot Point: 119.03

Support One (S1): 118.31

Support Two (S2): 117.58