Tuesday, November 20, 2012

USD/JPY ~ 20 November 2012

After a pullback the USD/JPY breached the resistance at 80.4ish and is now already near the next resistance at 81.8ish:

Another corrections is likely at this level, probably down to 80.4ish again. As long as 80.4ish holds, the medium-term trend is up and once 81.8ish is broken the next target should be 84.