USD/JPY Daily Technical Forex
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USD/JPY Daily Technical Forex
Fri, Feb 15 2008, 09:53 GMT
by Timothy Straiton
Current level at 10:45 CET is 108.15 trading above the daily pivot point level of 108.07 and trying to hold onto gains after the break out of the 105-108 bracket yesterday. Daily Bollinger and standard error bands are now poised slightly to the upside and the next resistance level of significance is the Fibonacci 23.6 percent retracement level at 109.50 measured over the 104.97 - 124.15 range. The daily Ichimoku cloud base is at 110.64. Whether the current break to the upside has stamina remains uncertain. The falling 200 and 55 day moving averages suggest that the chances of a relapse are more likely. Pivot point related resistance levels for today are set at 108.38 and then 108.92. Support levels are at 107.53 and then 107.22.
Published on Fri, Feb 15 2008, 09:54 GMT
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