Monday, September 10, 2012

USD/JPY ~ Update ~ 10 September 2012

The USD/JPY keeps bouncing off of the 78ish level:

As you can see in the chart above, the bounces get smaller though which results in a nice triangle. A break below the lower trendline (and the support area at 78) should lead to a decline to 76ish. A break above the upper trendline on the other hand, should lead to a rally to 80.5ish.