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Long Term Forex Analysis
USDJPY's up trend remains
Wed, May 7 2008, 01:53 GMT
by Franco Shao
USDJPY's up trend remains and the pullback from 105.70 is treated as consolidation to the up trend. Further rise to 108.00 area is still possible after consolidation. Near term support is at the rising price channel, as long as the channel support holds, up trend will continue. Key support is now located at 102.67, only break below this level will signal reversal to the up trend.
For long term analysis, USDJPY broke below the long term support at 101.65 (Jan 2005 low). Further fall to 90.00 area to reach the next cycle bottom on weekly chart is in favor.
Published on Wed, May 7 2008, 01:57 GMT
Archive
- USDCHF rebounded from 1.0010 level
Published On Sat, Jul 19 2008, 05:29 GMT - USDJPY broke below 104.98 support
Published On Wed, Jul 16 2008, 02:00 GMT - GBPUSD is forming a cycle bottom at 1.9647
Published On Sat, Jul 12 2008, 02:18 GMT - EURUSD is forming a cycle top at 1.5908
Published On Wed, Jul 9 2008, 02:00 GMT - USDCHF rebounded from 1.0111
Published On Sat, Jul 5 2008, 03:20 GMT
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