Printable View
Usd/jpy technical analysis for 07.11.2012 by using : Auto pivot indicator.
resistance 3:81.06
resistance 2:80.76
resistance 1:80.56
pivot point :80.26
support 1:80.05
support 2:79.75
support 3:79.55
---------- Post added at 10:56 AM ---------- Previous post was at 10:50 AM ----------
Usd/jpy technical analysis for 07.11.2012 by using : Auto pivot indicator.
resistance 3:81.06
resistance 2:80.76
resistance 1:80.56
pivot point :80.26
support 1:80.05
support 2:79.75
support 3:79.55
http://img688.imageshack.us/img688/5749/imagewi.gif
Begins USD / JPY trading today passively but still trapped between 79.40 and 80.70 levels
We await bypass price for one of these levels to confirm the next destination .... neutrality now going to get more accurate signals of direction
Elliott: irregular flat correction up 80.84
It should test 80.66 area after which a sell off down to 80.07 or extended to 79.77 area is expected.
Technical points
Key point 80.5100
Entry point 80.2400
Elliott 79.9600
Closing 80.3600
Projection 80.6800
Trendline 80.4200
Trendline 80.3200
Supports / Resistances
Res 2 80.7400
Ex-High 80.4400
Res 1 80.5500
Pivot 80.2500
Sup 1 80.0700
Ex-Low 79.9600
Sup 2 79.7700
USD / JPY in the last few hours has shown strong growth in the north, after that generally there is a great probability of a southern correction, also went to a couple of strong resistance 80.40, from this level, and I expect the beginning of a correction.
The yen rose on the background of falling of the Japanese stock markets thus increasing the demand for safe haven assets. The USD / JPY pair fell to Y79.95 during the Asian session, however, during the European session, the pair rose to the level of Y80.28.
The course worked fine retreat from the oblique resistance level and stochastics sell signal also be noted that the reduction takes place against the background of the dollar index which gave more additional signal to the south, I would expect a couple of near daily low 79.80.
USD/JPY's consolidation from 80.67 short term top is still in progress and intraday bias remains neutral. We'd expect pull back to be contained by 79.27 support and bring another rise. Break of 80.67 will extend the rally from 77.13 to 61.8% retracement of 84.17 to 77.13 at 81.48 next.
USDJPY has failed so far to break the major resistance at 80.62. However, because yesterday the price weakness has found demand, shows a new test on 80.68 high last.
The strong decline still think we are not talking, the pair formed a side channel 79.85-80.40, here is the best option to apply the channel strategy, now you can try to catch a northern retreat from 79.85 support (stop below 79.80).
USDJPY still stuck Begin dollar against yen today trading passively but still caught between the axial levels referred to yesterday 79.40 -80.70 as we await the override price for one of these levels to confirm the next destination