Date: 05.11.2012 Time: 18:28 Rate: 80.28
4 Hour chart
USD/JPY Forecast- the price is reaching the 80.00 after correcting the uptrend by a Fibonacci third towards the 79.45 price level and stopped at this level. Another breaching of the 80.00 will probably lead the price towards the next resistance on the 80.62 price level. On the other hand, breaking the 79.45 price level will probably lead the price at first stage to the next Fibonacci on the 79.16 price level while breaking this level will lead the price to the 78.78 price level.
Current review for today
USD/JPY Forecast- As it was written on the last daily review, breaching the 80.00 price level had lead the price to the 80.62 resistance, stopped in this area, corrected a third of the last uptrend which started on the 79.45 price level by a third and currently breaching the 80.62 price level will lead the price towards the 81.72 Fibonacci level. On the other hand, continuation of the downtrend will lead the price to a deep correction in size of between a third and two thirds of the mentioned uptrend.
You can see the chart below: