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Nice Sharing :respect:
According to the Japanese currency daily chart downwards .. so in general expect falling of pair ... now we see that there is a strong support level 77.50, but the last few candles shot to the north ... but I think that the price is above 78.35 will hardly rise ... so expect a new wave of sales of about that level ....
Dull little plot in USD / JPY, the pair very small range of motion is almost impossible to make money .... but judging by the more global picture it is possible to say that the pair slowly but still going down ... so this way but Viger First resistance from which may turn away much - or 78.40 .. 79.20 ...
k the MACD in 4H you can still see that theirs still strong demand or volume for buy and that's for me is a clear sign that even though theirs a lot of selling the buy position is still holding and if its going to hold this coming monday then I'm sure the sell volume will going to weaken and the price will once again going to increase.
support level (77.52) and Resistance (78.35). Usually, when the level reached, USDJPY will rise from its previous minimum as much as 10-20 pips, but if level penetrated more than 50 pips, then it would be a sign that these currencies have found trends for today.
USDJPY is trying to reach 78.19 resistance level now. it will be better to wait USDJPY touch that resistance level. Then, if USDJPY can break that resistance, USDJPY will continue going up to the next resistance level at 78.61. But if fail to break, USJPY may reverse and back to the support level at 77.70
Usd/jpy technical analysis for 02.10.2012 by using : Auto pivot indicator.
resistance 3:78.52
resistance 2:78.33
resistance 1:78.16
pivot point :77.97
support 1:77.80
support 2:77.61
support 3:77.44
On the H1 chart, price is above the 12 EMA and 72 EMA indicates the trend is still up
50 RSI is above 50 indicates area trend is still up
Options: BUY
Take profit: 78.46
short positions at 78.0070 with 77.8260 and 77.6280 as next targets
the breakout of 78.1780 will call for a rebound towards 78.3590
http://img191.imageshack.us/img191/934/imagepk.gif
The pair continued USD/ JPY to rise today with the support of the SMA 55 night to levels of 78.15 and rebounding
To rise as long as the pair is not breached SMA 55 and closure underneath addition, the stochastic oversold approached
Do not buy until after completion of the correction and saturation to see what pair traffic coming
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