Technical analysis of USD/JPY for June 18, 2014



The pair has been in an uptrend from 101.60 levels. It pauses the rally at the descending trend line. We expect the next up move will take place only above 102.25 levels. Until it crosses that, we can see selling pressure. On the down side, the pair has support at 102.10, 102 and 101.90 levels. Once it breaks below that 101.90, selling pressure will become active and may take the pair towards 101.82, 101.70 and 101.60 levels. Today, 101.60 will act as the bulls fate zone, if this level is taken off, the pair will shift the mode to free fall up to 101.40, 101.30 and 101 levels. O
n the bullish front, if the pair manages to breach the 102.25 resistance level, it can extend its up leg to 102.40, 102.57 and 102.65 levels.
Sell with sl 102.25 or buy above 102.25.


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