USDJPY Weekly Technical Analysis (23-27 March,2015) | March 21, 2015

USDJPY failed to make higher high last week. It dropped from resistance level. After FOMC, we saw rapid falling on this pair. After retrace this pair fell again in the last trading day. So we can see little bearish movement on this pair again. But this pair is staying above support level. 119.80-120 level is good support for this pair. If it can stay above this level, then bullish movement can start again and target will be 121.50 level. On the other hand, if we can see breakout of this support then it can drop to 119 level.


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Weekly Pivot, Support and Resistance

Resistance Two (R2): 122.46

Resistance One (R1): 121.23

Pivot Point: 120.27

Support One (S1): 119.04

Support Two (S2): 118.08