Sunday, 25 March 2012

UsdJpy

Have the Japanese got enough Yen before end-of-year?


Daily -
Daily chart has turned bearish closing under the 83.325 - 50 Line. Expect one last bounce higher whilst price remains above the 23.6 Fib on a Daily closing basis. Similarly should price close above the immediate resistance at 82.978 expect choppy trading into month end.















4 Hourly -
Bearish Butterfly completed.
Thus far the retrace found support at the 200.0 Fib extension just shy of support at 81.75.  At this point would expect any bounce to target the 50% Fib of this move at 83.02 in line with the Daily chart resistance. A break of 81.75 would immediately target the 222 Ema at 80.92.

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