USDJPY Classic Technical Report 08.03.2012

RELATED QUOTES

SymbolPriceChange
USDJPY=X113.6600-0.388

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

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

To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to ispivak@dailyfx.com

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    0.7477+0.0017+0.22%
    AUDUSD=X
    0.5920+0.0039+0.66%
    AUDGBP=X
    0.6950-0.0008-0.11%
    AUDEUR=X