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  • ALL ORDS

    8,050.90
    +98.60 (+1.24%)
     

  • ASX 200

    7,778.60
    +96.20 (+1.25%)
     

  • AUD/USD

    0.6610
    -0.0016 (-0.23%)
     

  • OIL

    78.62
    +0.14 (+0.18%)
     

  • GOLD

    2,330.20
    -1.00 (-0.04%)
     

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    -1,086.09 (-1.12%)
     

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    1,364.47
    +51.84 (+3.95%)
     

  • AUD/EUR

    0.6137
    -0.0009 (-0.15%)
     

  • AUD/NZD

    1.0995
    -0.0025 (-0.23%)
     

  • NZX 50

    11,807.48
    -13.30 (-0.11%)
     

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    18,093.57
    +202.77 (+1.13%)
     

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    +41.34 (+0.51%)
     

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    +176.59 (+0.46%)
     

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    +173.61 (+0.96%)
     

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    -126.78 (-0.68%)
     

  • NIKKEI 225

    38,727.93
    +491.86 (+1.29%)
     

USDJPY Classic Technical Report 08.03.2012

Ilya Spivak

Prices continue to consolidate in a well-defined range between support at 77.96 and resistance in the 78.43-60 area. A break higher exposes falling channel resistance set from the June 24 high, now at 78.71. Alternatively, a breach downward initially targets 77.65.

USDJPY_Classic_Technical_Report_08.03.2012_body_Picture_5.png, USDJPY Classic Technical Report 08.03.2012
USDJPY_Classic_Technical_Report_08.03.2012_body_Picture_5.png, USDJPY Classic Technical Report 08.03.2012

8hr Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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