usd jpy weekly : bottmed out pattern ?

usd jpy weekly technical analysis for 7 to 11 march 2016

usd jpy weekly technical analysis for 7 to 11 march 2016

Usd jpy pair this week closed with loss but recovered major loss. On weekly chart pair is consolidating in 111-113 zone and building base. Indicators are oversold on weekly chart and suggesting upcoming recovery phase.   On upside 116.5 and 119.5 are resistance as well as medium term target zones for yen. On downside 113 and 111 are strong support zones as well as stop loss levels for traders and long investors.   Daily chart price and indicators pattern suggesting same target zones for usd jpy pair.

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