![USD/JPY Intra-Day Technical Analysis - waiting for bearish breakdown USD/JPY Intra-Day Technical Analysis - waiting for bearish breakdown](https://c.mql5.com/6/689/splash-649947.jpg)
USD/JPY Intra-Day Technical Analysis - waiting for bearish breakdown
22 September 2015, 14:43
![Sergey Golubev Sergey Golubev](https://c.mql5.com/avatar/2012/12/50D09349-3D90.jpg)
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M5 price is located below SMA with period 100 (100-SMA) and below SMA with the period 200 (200-SMA) for trying to break descending triangle patterns with 119.81 support level and 119.69 support level. The key reversal resistance level is 120.36 located near and above 100-SMA/200-SMA in the primary bullish area of the chart.
- If the price will break 120.36 resistance level so we may see the reversal of the price movement to the primary bullish market condition with secondary ranging.
- if price will break 119.69 support so the bearish trend will be continuing.
- if not so the price will be ranging within the levels.
Resistance | Support |
---|---|
120.36 | 119.81 |
N/A | 119.69 |
- Recommendation to go short: watch the price to break 119.69 support level for possible sell trade
- Recommendation to go long: watch the price to break 120.36 resistance level for possible buy trade
- Trading Summary: ranging
SUMMARY : ranging