USDJPY Weekly Technical Analysis (18-22 May,2015) | May 16, 2015

Usdjpy has formed bullish gartley pattern at h4 time frame. So it is a indication of bullish movement on this pair. A pin bar was formed on daily chart on this pair. So we can see bullish movement on this pair. 118.90 is near term support for this pair. Above this support we can look for buy on this pair. Next support lies on 118.30-118.50 area. So if we find on deep, then we can take buy entry on this pair. Our target will be 120.20 and then 121.50 area.


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Weekly Pivot, Support and Resistance

Resistance Two (R2): 120.86

Resistance One (R1): 120.07

Pivot Point: 119.47

Support One (S1): 118.68

Support Two (S2): 118.08