Usd/Jpy

Usd/jpy technical analysis for 29.11.2012 by using : Auto pivot indicator.

resistance 3:82.85
resistance 2:82.54
resistance 1:82.31

pivot point :82.00

support 1:81.76
support 2:81.45
support 3:81.22

Despite yesterday’s brief fall to 81.69, as the greenback found renewed buying interests there and has rebounded again, suggesting consolidation with mild upside bias would be seen for test of 82.32 but break of indicated resistance at 82.63 is needed to confirm low is formed and signal pullback from 82.84 has ended, then retest of this level would follow. Looking ahead, once this resistance is penetrated, this would extend recent upmove to 83.00 but loss of near term upward momentum should prevent sharp move beyond 83.20-30, risk from there has increased for a minor correction to take place later.

In view of this, we are looking to buy dollar on dips. Below said support at 81.69 would risk test of previous resistance at 81.59 but still reckon previous support at 81.10-14 would contain downside and bring another rebound later.

USD/JPY found the 82 level supportive by the end of the session, and formed a hammer. This hammer suggests that we are going to continue higher in this pair although we do see quite a bit of resistance above. In fact, the 82.50 level will have to be overcome to continue higher. This market looks like one that has a sideways bias with a slightly upward “tilt.” Because of this, we are more than willing to not only buying this market, but hold onto it. We see 84 is the next major barrier to overcome, if we do that we could go much, much higher.

http://img842.imageshack.us/img842/2096/imageod.gif

Settled USD / JPY above 82.00 support climb, noting that stochastic gaining positive momentum ****ually on the daily time frame.

Considerable potential for the continuation of the upward tendency of the reach the levels of 83.00 what is not broke level of 81.45

on the hourly chart pair drew a downward trend, and now the price is just to be on the top edge of the channel, especially keeping the horizontal level 82.15, so expect that today or tomorrow will fall to stronger support 81.70 ..

Couple began to unfold after a long consolidation below 200 MA, the course still went to the north and broke through several important resistance levels (among them-and medium-sloping line), now the pair is consolidating again and gaining strength and is similar to the northern growth.

The yen rose against all major currencies on increased demand for safe-haven assets due to the background of weakening of the Asian stock indices, and the political struggle between U.S. lawmakers on reaching consensus on the budget, a solution to the problem of so-called "financial cliff ". In details, the currency strengthened after the leader of the Democratic majority in the U.S. Senate, Mr. Reid expressed his disappointment on the lack of progress in the negotiations on avoiding a "financial cliff ". The USD / JPY pair tested for two times the low of Y81.70 today.

Trading key for USD/JPY today :
Daily Pivot : 81.98, Resistance : 82.29 and support : 81.77.
Fibo levels :
Fibo 0.0 : 82.21.
Fibo 38.2 : 82.02.
Fibo 61.8 : 81.88.
Fibo 100 : 81.68.
Trend : Bullish.

The pair is trying to stay above 82.219. The indicators warn the possible corrections. First aim is at 81.399.
Resistance: 82.219, 83.065, 83.933
Support: 81.399, 80.438, 79.707

INTRADAY TRADING SIGNAL

USDJPY M15

Market on m15 chart is currently moving inside an ascending triangle. Since current price failed to break through the lower part of this triangle, I expect price is hunting for the upper part of this ascending triangle, at 82.18. Price will keep on moving inside this triangle, unless it manage to break through either side of this chart pattern.