Usd/Jpy

Expected trading range for today is between: Support 78.00 Resistance 80.70
General tendency is expected for the day: UP

http://i45.tinypic.com/5jtb11.gif

The short term trend of the pair is to the upside. Intraday trading range of the pair is expected among key support at 77.90 and key resistance at 80.50. Based upon my chart analysis, I prefer to buying the pair around 78.80 with target 80.30 and stoploss is below 77.90.

USDJPY’s upward movement from 77.94 extends to as high as 79.46.
Support is at 79.00, as long as this level holds, the uptrend could be expected to continue after a minor consolidation,
and next target would be at 80.00 area.

Usd/jpy technical analysis for 19.10.2012 by using : Auto pivot indicator.

resistance 3:80.09
resistance 2:79.79
resistance 1:79.53

pivot point :79.22

support 1:78.96
support 2:78.66
support 3:78.40

The U.S. Dollar was higher against the Japanese Yen on Friday.

USD/JPY was trading at 79.30, up 0.04% at time of writing.

The pair was likely to find support at 78.33, Monday’s low, and resistance at 79.45, Thursday’s high.

Couple again went to the 200 moving around which once again left off, the time schedule is noticeable turn south and the formation of a double vershinki, got on sale, do not believe in strong growth.

Upward direction pair today
Expected targets 59.50 - 79.70 - 79.90
With the necessity of constant trading above the support level at 79.05

Amid growing of Asian stocks and optimism associated with started today the two-day meeting of European Union leaders in Brussels the yen reached minimum values of the month against its counterparts. Markets were full of positive expectations about the announce of the solutions in resolving the Eurozone debit crisis. The pressure on the currency was also provided by the fact that on October 30 the central bank of Japan may announce another package of measures for stimulating the National economy. The USD / JPY pair rose to Y79.36 level updating its monthly high today.

19/10/2012 Usd/jpy Full Detailed ForeCast

Intraday USD / JPY intraday support around 79.05.

Pivot point (level of invalidation): 79.05

Our preference: Long positions above 79.05 with target to 79.5 and 79.7 in extension.

Alternative scenario: Below 79.05 we expect further downside with 78.95 and 78.8 of the target.

Technical Comments: the RSI is bullish and calls for further uphill.

USD/JPY
SELL
Entry :- 79.310
TP1 :- 78.908
TP2 :- 78.508
SL :- 80.116

Note this is just my attempt to predict the price could be right or wrong stop-loss order is very important must put always follow the trend