Usd/Jpy

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The short term trend of the pair is to the upside. Intraday trading range of the pair is expected among key support at 78.50 and key resistance at 81.05. Based upon my chart analysis, I prefer to buying the pair around 79.50 with target 81.05 and stoploss is below 78.60.

The pair is working out the Triangle figure. The end of the figure maybe expected at 83.330 (if 80.244 will be broken).

Resistance: 80.244, 83.330, 86.836

Support: 76.535, 73.126, 69.117
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Simple analysis of the pair USD / JPY, October 30, 2012
In the time frame H1, AO and MACD still in the area sell, while WMA 50 and 100 still shows down trend. This suggests that in the long term, the pair USD / JPY will experience the down trend, although today it is possible correction to the price of 79.71 (pivot). Good luck .....

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Found dollar against the yen good support around 79.50 relied upon to bounce up yesterday but managed to break today while referring to the approach of stochastic price of the acquisition of the positive torque


Positive outlook will continue to exist and are likely, and main targets start at 80.70, while achievable requires stability above 79.20 and more importantly above 78.85

The Bank of Japan boosted the size of its asset-purchase program by JPY11 trillion, in an effort to boost slowing economic activity and to counter the strengthening yen, it announced on Tuesday.

The BoJ boosted the size of its asset purchase program by JPY11 trillion to a total of JPY66 trillion. The asset purchase fund has been its main policy tool since October 2010.

Policy makers kept a separate credit loan program at JPY25 trillion. The BoJ also left its policy interest-rate target unchanged in the current range of zero to 0.1%

Following the decision, the yen was higher against the U.S. dollar, with USD/JPY shedding 0.43% to trade at 79.46.

Meanwhile, Asian stock markets were broadly lower. Japan’s Nikkei 225 Index tumbled 1%, Australia’s ASX/200 Index eased up 0.2%, while Hong Kong's Hang Seng Index fell 0.6%.

The trading range for today is among key support at 78.50 and key resistance now at 81.05.

The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.

The firmed against the yen on Tuesday on building talk the Bank of Japan will announce plans to roll out fresh monetary easing measures this week.

In Asian trading on Tuesday, USD/JPY was trading at 79.92, up 0.15%, up from a session low of 79.76 and off a high of 79.93.

The pair was likely to find support at 79.53, Monday's low, and resistance at 80.28, Friday's high.

Talk continues to build the Bank of Japan will bolster its monetary easing program and take further steps to weaken the yen, which sent the dollar gaining early Tuesday.

An announcement should come later in the day.

Trading was subdued, as markets were closed in the U.S. due to the arrival of Hurricane Sandy, which made landfall along the coast of the U.S. state of New Jersey as a powerful post-tropical system wreaking havoc along he heavily populated eastern seaboard.

There has been a reversal formation forming a "head and shoulders", the last 4 hours candle candle formed absorption and developed it with the momentum forward to my call for sale, the goal may be 78.90.

Majors Daily Forecast 30 October 2012

Trading range: 80.20 - 79.30

Trend: Downward

Sell at 80.08 SL 80.40 TP 79.36

The yen continued to be in demand today and remain high against the U.S. dollar after the rapid strengthening of Friday. The demand for safe haven assets increased today as the reaction on continuation of weakness of the world economy. The Bank of Japan will have a meeting tomorrow where a Japanese program to stimulate the economy would be considered. The USD / JPY pair after trading in the range of Y79.61- 74 fell to the lows of the Y79.52