Open trading account 
Since opening of the trading day the pair USD/JPY is undergoing downward correction against significant rise last week.
The price has rebounded from the level of 111.95, which is crossed by ЕМА50 (on the daily chart). Fibonacci retracement 23.6% is above the level of 112.15. For 2.5 months the pair fell by over 1300 points from the level of 121.30 to the record lows of 108.00 (ЕМА200 on the weekly chart). However, on the daily chart the indicators OsMA and Stochastic give buy signals.
On the weekly chart the indicators are reversing towards the long positions. The price has broken resistance level of 111.00 (ЕМА200 on 4-hour chart) and ЕМА144 (on the weekly chart), as part of the correction movement. If the rise continues, this level will become important support level for the pair.
When the indicators OsMA and Stochastic on 4-hour chart start to give buy signals, it will be advisable to open long positions.
After consolidation of the price above the level of 112.15 (Fibonacci 23.6%), the rise in the pair will accelerate. The targets will be at the levels of 114.75 (Fibonacci 38.2%), 115.45 (ЕМА144 on the daily chart), 116.85 (Fibonacci 50%).
Otherwise, if investors will be disappointed by the decisions of the Bank of Japan and US Fed comments this week, the pair may continue to decline to the recent lows of 108.00.
Support levels: 111.00, 109.50 and 108.00.
Resistance levels: 111.95, 112.15, 113.45, 114.75 and 115.45.
Trading tips
Sell Stop: 110.80. Stop Loss: 111.20. Take-Profit: 110.00, 109.50 and 108.00.
Buy Stop: 111.40. Stop Loss: 110.90. Take-Profit: 111.95, 112.15, 113.45, 114.75 and 115.45.
The price has rebounded from the level of 111.95, which is crossed by ЕМА50 (on the daily chart). Fibonacci retracement 23.6% is above the level of 112.15. For 2.5 months the pair fell by over 1300 points from the level of 121.30 to the record lows of 108.00 (ЕМА200 on the weekly chart). However, on the daily chart the indicators OsMA and Stochastic give buy signals.
On the weekly chart the indicators are reversing towards the long positions. The price has broken resistance level of 111.00 (ЕМА200 on 4-hour chart) and ЕМА144 (on the weekly chart), as part of the correction movement. If the rise continues, this level will become important support level for the pair.
When the indicators OsMA and Stochastic on 4-hour chart start to give buy signals, it will be advisable to open long positions.
After consolidation of the price above the level of 112.15 (Fibonacci 23.6%), the rise in the pair will accelerate. The targets will be at the levels of 114.75 (Fibonacci 38.2%), 115.45 (ЕМА144 on the daily chart), 116.85 (Fibonacci 50%).
Otherwise, if investors will be disappointed by the decisions of the Bank of Japan and US Fed comments this week, the pair may continue to decline to the recent lows of 108.00.
Support levels: 111.00, 109.50 and 108.00.
Resistance levels: 111.95, 112.15, 113.45, 114.75 and 115.45.
Trading tips
Sell Stop: 110.80. Stop Loss: 111.20. Take-Profit: 110.00, 109.50 and 108.00.
Buy Stop: 111.40. Stop Loss: 110.90. Take-Profit: 111.95, 112.15, 113.45, 114.75 and 115.45.
