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Report date: 01/10/2014
* All times are displayed in GMT (London time)

Summary

BUY
We look to Buy at 109.60 (stop at 109.40)


Resistance 3 110.28
Resistance 2 110.20
Resistance 1 110.07
Support 1 109.54
Support 2 109.50
Support 3 108.79

Last Update 01/10/2014 - 6:46am

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Analysis

USDJPY - Intraday - We look to Buy at 109.60 (stop at 109.40)

Trades at the highest level in 73 months. Due to an Ending Wedge formation, we continue to treat extended gains with caution. The trend of higher highs is located at 110.07. The trend of higher lows is located at 109.51. Bespoke support is located at 109.54. A move higher faces tough resistance and we remain cautious on upside potential. Preferred trade is to buy on dips.
Our profit targets will be 109.90 and 110.10

Resistance: 110.07 / 110.20 / 110.28
Support: 109.54 / 109.50 / 108.79

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Disclaimer: This is a promotional sample of our financial analysis. It is provided so that potential clients can see the detail and formation of the information we provide. It is not a recommendation to buy or sell, nor does it constitute advice and you should not act upon this information. Hypothetical and simulated performance results do not represent actual trading, may not account for actual market factors and have many limitations. You may not achieve similar profits or results. No representation is being made with respect to performance, profits or results.

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