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10-18-2012, 02:43 AM
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USDJPY: Holds Above Broken Trendline
USDJPY: The pair is now seen back above its falling trendline and targeting the 79.64 level. USDJPY will have to hold above here on a daily closing basis to convince the market of further upside gains. This if seen could push the pair further higher towards the 80.59 level where a breach will turn attention to the 81.77 level. Alternatively, a failure to hold on to its present upside offensive could mean a return to the 77.13/00 levels. If however, this fails, expect USDJPY to weaken further towards the 76.49 level and then the 76.00 level. All in all, USDJPY faces further bull pressure.
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Mohammed Isah Technical Strategist info@fxstrategy.com www.fxtechstrategy.com Note: This is an excerpt from The Professional Suite, our most popular service, a daily 7 currency model technical research package. Get More Information This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are those of FXTechstrategy.com own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which FXTechstrategy.com incurs any responsibility. FXTstrategy.com does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report. 
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