consolidation from 75.56 should extend for a while below 85.51 first. In anyway, we'd stay bearish as long as 85.51 resistance holds and expect an eventual downside breakout.
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consolidation from 75.56 should extend for a while below 85.51 first. In anyway, we'd stay bearish as long as 85.51 resistance holds and expect an eventual downside breakout.
long positions at 79.6470 with 79.8550 target
the breakout of 79.4570 will call for a rebound towards 79.2850
http://www14.0zz0.com/2012/07/02/10/357920511.gif
Set up and keep looking to the north of the pair on the daily chart clearly shows the level of support (italic) below which the couple is not allowed, and the course could not be strengthened below 200 moving, the purpose of 81.00.
USD / JPY pair broke the uptrend and closure under today's trend will increase the likelihood of landing more, but the pair is close to the areas that constitute 23 Fibonacci support level
The RSI is supported by bullish trend line. Long position is preferable at 79.45 with price targets 80 and 80.25. If the price goes to below 79.35 then we can expect downward movement 79.1 and 79 as price targets.
The pair is now trading within the lateral canal yesterday, a bit rate did not reach to the bottom of the channel and went to a retreat to the north, the rate approaches the upper slope of the line (the strong resistance of 80.00) from him, I expect a retreat to the south.
short positions at 79.7600 with 79.6200target
the breakout of 79.8700 will call for a rebound towards 79.9600
http://www11.0zz0.com/2012/07/03/09/631319990.gif
USD / JPY closed the first trading day of this month's candle bearish but the pair returned to the rise of the day when the rising trend and is now trading above resistance levels, which makes it possible to see more large ascent
http://www2.0zz0.com/2012/07/03/10/896883141.png
If we analyze the 4 hour chart, you can see the triangle formed converging, the couple is in limbo, and it is not clear which side of the triangle will be broken, I continue to watch it. I think that still go to the north.
As expected, pair looks rejected by 79.85, still sideways, lets see if pair breaks this sideways channel in US session on US data releases, downward movement will open the way to 79.30