USD/JPY analysis (July 06, 2011)

Not much of a change on this pair which continues to consolidate on top of its key support at 80,00.
The setup is constructive with a momentum building nicely.


USD/JPY – daily chart

A break above 81,30 would accelerate towards next resistace at 82,20.

Only a break below 80,30 would expose 80,00 with an important risk of breakout.