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Thursday 6 October 2011

USD/JPY Facing Selling Pressure in Asian Trading Session

USD/JPY is going sideway and it has no any buying or selling presher to conseder. Today it opens at 76.78 and now 76.73 while it wase writing. That means it is going down and very less movement. Today USD/JPY pivot point: 76.82 , support levels at 76.57, 76.36, and 75.89 . Resistence lavels at 77.03, 77.28 and 77.74 .

USDJPY is facing the support of the uptrend line on 4-hour chart, as long because the trend line support holds, the autumn from seventy seven.25 is treated as consolidation of uptrend, an additional rise towards seventy seven.85 continues to be attainable. However, a transparent break below the trend line can indicate that a cycle high has been fashioned at seventy seven.25, and therefore the rise from seventy six.09 has completed, then deeper decline towards seventy five.96 key support may well be seen.

USD/JPY Facing Selling Pressure in Asian Trading Session

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