Opinion of USD/JPY

[usgalla]

Now USD/JPY Seems to be in a Uptrend. Its broken out of the Downward Channel. Check attached Chart.
Timeframe Used is 1H

 

[jeffsmith]

The downtrend should continue on 96,50 support (55 pips). If the support breaks then the target will be 94,20 (285 pips). We are waiting for a break of the support to take a short position.

 

[jeffsmith]

USD/JPY – The modern break underneath the 50-Day SMA interruption hopes for added upturn back on top of 100.00 and now opens the door for deeper setbacks over the upcoming days in the direction of the 95.65-95 area. Though, trade leftovers tremendously uneven and we do not law out the prospects of a turnaround in the early week back to the advantage. Key points to observe above and beneath come in by 98.15 and 95.95. Sideline strategy must be good.

 

[jeffsmith]

It could be a short position at 96,10. We will put the stop loss above the point 96,65 (-55 pips). The targets are 95,00 (+110 pips, risk/reward 1:2), 94,50 (+160 pips, risk/reward 1:2.9) . Each trade is dangerous, take care and put your stop loss.
Resistances
96,50 - 96,90
Supports
95,95 - 95,00