Usd/Jpy

Usd/jpy technical analysis for 31.10.2012 by using : Auto pivot indicator.

resistance 3:80.94
resistance 2:80.55
resistance 1:80.07

pivot point :79.67

support 1:79.20
support 2:78.80
support 3:78.33

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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 dollar softened against the yen on Wednesday as investors crept out of the safety of the U.S. currency where they holed up as nasty post-tropical storm Sandy lashed the U.S.

The country was still assessing widespread damage, though many investors who rode out the storm in the safe-harbor greenback sold to play an eventual recovery.

Markets shrugged off a Bank of Japan move to expand its easing program.

In Asian trading on Wednesday, USD/JPY was trading at 79.56, down 0.08%, up from a session low of 79.55 and off a high of 79.68.

The pair was likely to find support at 79.28, Tuesday's low, and resistance at 80.10, Tuesday's high.

Hurricane Sandy morphed into a post-tropical giant and roared ashore along the New Jersey coast on Monday, lashing the heavily populated northeastern U.S. with heavy rains, high winds and a deadly storm surge.

Markets were closed for a second day in the U.S. on Tuesday, though investors who bought dollars prior to the storm's landfall began to loosen up by Asian trading on Wednesday, selling
their dollars to play recovery, which weakened the greenback against its Japanese counterpart.

Meanwhile, the Bank of Japan decided to expand its asset-purchasing program to JPY91 trillion from JPY80 trillion to further stimulate the economy, though investors shrugged off the amount and sold greenbacks in exchange for safe-harbor yen.

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Trading pair USD / JPY wobbling yesterday with the stability of trading above 79.20
The stochastic is approaching oversold, making us continue our positive expectations in the short term supported by the SMA 50.

Recall targets that start at 80.70 and requires achieved stability above 79.20 and more importantly above 78.85

The correction from 80.37 could extend lower but we'd expect downside to be contained above 78.86 support (61.8% retracement of 77.93 to 80.37 at 78.86) and bring rally resumption eventually. Above 80.12 minor resistance will extend recent rally from 77.13 through 80.61 resistance (50% retracement of 84.17 to 77.13 at 80.65).

In Tuesday's session, but terhadang USDJPY had declined by 38.2% Fibonacci retracement level of the recent upward movement (77.44 - 80.38), which is 79.27. Strong support area resulted USDJPY rose today with the nearest target at 79.98 and 80.38.

Spoiler:

http://financeroll.co.id/wp-content/...012/10/168.png

After the disappointing results of the meeting of the Bank of Japan, where the key interest rates was left unchanged - at the level of 0,0-0,1 %, the yen strengthened against the U.S. dollar. The Central Bank announced the expanding of the program of buying up assets by increasing it by 11 trillion yen (160 billion dollars) - up to 91 trillion yen. This decision was predicted by most economic analysts; however, many investors were expecting more aggressive actions. The USD / JPY pair fell to Y79.27 during announce of the Central bank decision.

The U.S. dollar turned higher against the yen on Wednesday, paring Tuesday’s losses after fresh easing steps by the Bank of Japan disappointed expectations for more aggressive measures.

USD/JPY hit 79.76 during late Asian trade, the session high; the pair subsequently consolidated at 79.75, gaining 0.16%.

The pair was likely to find support at 79.26, Tuesday’s low and a one-week low and resistance at 80.12, Tuesday’s high.

The dollar fell to a one-week low against the yen on Tuesday, after the BoJ increased the size of its asset purchase program by JPY11 trillion, disappointing expectations for stronger easing measures.

The BoJ decision came amid growing concerns over the deteriorating economic outlook and growing political pressure to step up measures to combat deflation.

U.S. markets were preparing to reopen on Wednesday after a two day closure for Hurricane Sandy.

Investors were looking ahead to Chinese manufacturing data on Thursday, as well as Friday’s U.S. nonfarm payrolls report amid concerns over the global economic recovery.

USD/JPY
BUY
Entry :- 79.660
TP1 :- 80.107
TP2 :- 80.555
SL :- 78.770

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

The pair has tested Moving Average (500) at 80.195 and rolled back to 79.707.
Resistance: 79.707, 80.438, 81.399
Support: 79.070, 78.345, 77.539