USDJPY Technical Analysis 2014, 12.10 - 19.10: Secondary Correction Within Primary Bullish

D1 price is on bearish correction for trying to break 107.52 support level for the correction to be continuing.

H4 price is on bearish ranging between 108.15 resistance and 107.06 support levels.

W1 price could not break 110.08 resistance and it is the correction started from this week. The market is still on primary bullish and I think the bullish trend will be continuing in the end of this month or in the beginning of the next month for example.

MN price: it was good bullish trend with breakout which was stopped by 109.84 resistance level with the secondary correction started on open MN1 bar. I am expecting the ranging market cindition: the price will be floating between 109.84 resistance and 100.75 support levels with primary bullish.

If D1 price will break 107.52 support level on close D1 bar so the secondary correction will be continuing (good for counter trend strategies working on H4/D1 timeframes).
If not so the price will be ranging between 110.08 resistance and 107.52 support levels (good for martingale systems working on H1/H4/D1 timeframes).

• Recommendation for short: watch D1 price to break 107.52 support for possible sell trade
• Recommendation to go long: n/a
  
• Trading Summary: bullish
  

SUMMARY : bullish

TREND : correction