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The pair showed yen bearish miles on yesterday follows it passively for the day as well, as now re-tested resistance piercing and turn into support at 78.25
SMA 50 and Stochastic putting negative pressure on the price, and the possibility of a return close to the descending channel, but we need to keep in neutral until we have a daily close below 78.25
Expected trading range for today is between: Support 77.65 Resistance 79.00
General tendency is expected for today: neutral
Breakthrough uplink (its lower limit) and now there was the formation of another channel, but the bear until the course is directed to its upper limit (78.50 + -), from the slope of this will sell.
Cad/jpy technical analysis by using : Fibonacci tool ,. It is all time frame . Enjoy it .
Resistance 3 : 80.70
Resistance 2 : 79.87
Resistance 1 : 79.65
Pivot point : 80.06
Support 1 : 79.24
Support 2 : 79.06
Support 3 : 78.82
if USDJPY can be rejected again by that resistance, USDJPY may forms a double top chart pattern on 78.61 resistance. After that, it will give a potential for USDJPY to reverse again and fall to the 78.19 support level.
Spoiler:
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: 79.00
usd / jpy pair as always very unpredictable, just with momentum much tore the north, jpy broke the resistance 78.60 then began southern correction should catch the end of the correction for the purchase of sale can score, target 79.20.
Usd/jpy technical analysis for 05.10.2012 by using : Auto pivot indicator.
resistance 3:79.14
resistance 2:78.94
resistance 1:78.71
pivot point :78.51
support 1:78.28
support 2:78.08
support 3:77.85
USDJPY remains above the trend line on the 4 hour chart, and remains in uptrend from 77.43. As long as the trend line support to survive, uptrend could be expected to continue, and next target would be at 79.00 area.
Could not pair yesterday to reach the level of resistance, but today it is possible to be able pair of break this level and if it managed to reach 78.61, the price will rise to 79.16 but if unable pair of break 78.61, the price will drop to the support level at 78.19
by UJ chart shows that the price closed last night at 78.65 in TF H1 with an upper limit and lower limit 78.27 78.86.
if you look at the price movement last week, UJ chart tend to have a bullish trend. opening of the market on Monday will determine whether this trend will continue or change.