USDJPY Classic Technical Report 10.05.2012


Prices put in a Doji candlestick at resistance marked by the 38.2% Fibonacci retracement (78.45), a barrier reinforced by the top of a falling channel set from late June (78.70), hinting a reversal lower may be ahead. Initial support lines up at 77.95, the 23.6% Fib, with a break below that exposing 77.47. Alternatively, a push above the channel top initially targets the 50% retracement at 78.87.

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USDJPY_Classic_Technical_Report_10.05.2012_body_Picture_5.png, USDJPY Classic Technical Report 10.05.2012

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