USDJPY Weekly Technical Outlook (16-20 March, 2015) | March 14, 2015

Usdjpy is following its uptrend line. It also made new high last week. So this pair is looking for making new higher high in the coming days. A pin bar has been formed on H4 time frame at support level at 120.70 area. It was near term support area. It is good sign for buy on this pair. On daily chart, we can see a pin bar has been formed also on this support. So if this pair can hold this support, we can see bullish movement again on this pair. So our recommendation is to stay on upside on usdjpy above this support level.


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Weekly Pivot, Support and Resistance

Resistance Two (R2): 122.74

Resistance One (R1): 122.06

Pivot Point: 121.33

Support One (S1): 120.65

Support Two (S2): 119.92