USDJPY Weekly Technical Analysis (8-12 June,2015) | June 7, 2015

Usdjpy is continuing its bullish rally as we expected last week. It is following a upward channel in h4 time frame. We should follow that channel to ride on this upward rally. After NFP news, it has broken 125 resistance area. Now 125 level will act as support for this pair. We can wait for retrace on this level, then we can go for buy on this pair again. Next target for this pair 127 and then 130 area.


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Weekly Pivot, Support and Resistance

Resistance Two (R2): 127.15

Resistance One (R1): 126.36

Pivot Point: 125.05

Support One (S1): 124.26

Support Two (S2): 122.95