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Long Term Forex Analysis
USDJPY is forming a cycle bottom at 103.76
Wed, Jul 23 2008, 02:15 GMT
by Franco Shao
USDJPY is forming a cycle bottom at 103.76 on daily chart. Key resistance is located at 107.75, a break above this level will confirm the cycle bottom, and further rise above 108.58 previous high resistance is expected to follow. Initial support is at 103.76, only fall below this level will pull price back to 100.00 area.
For long term analysis, USDJPY might be forming a long term cycle top at 108.58 on weekly chart. However, a break below 102.58 long term key support is needed to confirm the cycle top.
Published on Wed, Jul 23 2008, 02:17 GMT
Archive
- USDCAD is in consolidation to up trend
Published On Sat, Sep 6 2008, 02:50 GMT - EURUSD is test the support of the up trend line
Published On Wed, Sep 3 2008, 02:10 GMT - USDCHF traded in range between 1.0842 and 1.1084
Published On Sat, Aug 30 2008, 00:58 GMT - GBPUSD's down trend remains
Published On Wed, Aug 27 2008, 01:40 GMT - USDCAD broke below 1.0543 key support
Published On Sun, Aug 24 2008, 02:05 GMT
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Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management.
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
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