USD/JPY analysis (July 05 2011)

The pair is still consolidating above the key 80,00 level. A material base seems to be in place and a break above 81,30 would expose next resistance at 82,00.


USD/JPY – daily chart

Only a break below 80,30 (last swing low) would concern and put additionnal pressure on the pair. A break below 80,00 would definitly resume the downtrend.

We always need to be extra careful while trading this pair which often lacks follow though.