Sponsors

USDJPY Analysis - August 4, 2012

Long Term Forex Analysis | by ForexCycle.com | Saturday, 04 August 2012 06:08 UTC
USDJPY is in downtrend from 80.61. Deeper decline to test 77.66 support could be expected next week, a breakdown below this level will target 76.00 area. Resistance is now at the upper line of the price channel on daily chart, only a clear break above the channel resistance could signal completion of the downtrend.

For long term analysis, USDJPY has formed a cycle top at 84.17 on weekly chart. Pullback to 75.00 area would likely be seen over the next several weeks.

usdjpy daily chart

Recommended Forex Trading Platforms

Forex Trading We know that the right opportunity can happen at anytime, anywhere. Saxo Capital Markets is committed to giving you a suite of platforms that will enable you to access your account and trade the markets whenever and wherever you want.

Sponsors

Subscribe to Newsletter

To receive alerts by email when Free Forex Analysis are updated. Enter your email address below.