USDJPY Weekly Technical Analysis (25-29 May,2015) | May 24, 2015

Usdjpy has broken its recent ranging mode. It is on bullish momentum after breakout of the range. We can see more bullish movement on this pair. Near term support is staying at 120.70 area. We can find buy opportunity on that level. If we can get some retrace on this pair, then we can take buy entry on this pair and target will be 124 area. On the other hand, this pair is moving up from the bullish gartley pattern which we had shared before.


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Weekly Pivot, Support and Resistance

Resistance Two (R2): 123.11

Resistance One (R1): 122.31

Pivot Point: 120.76

Support One (S1): 119.96

Support Two (S2): 118.41