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Short Term Analysis
USDJPY rebounds from 104.02
Wed, May 7 2008, 00:30 GMT
by Franco Shao
Being contained by the support of the up trend line from 95.77 (Mar 17 low) to 100.30 (Apr 14 low), USDJPY rebounds from 104.02 and is forming a short term cycle bottom on 4-hour chart. Further rise to 108.00 area is expected after consolidation, and a break above 105.70 previous high will confirm such case. Initial support is at the mentioned up trend line, and key support is at 102.67, only break of this level will signal reversal to the up trend.
Published on Wed, May 7 2008, 00:34 GMT
Archive
- AUDUSD is forming a symmetrical triangle pattern
Published On Fri, May 16 2008, 00:38 GMT - GBPUSD rebounds from 1.9363 level
Published On Thu, May 15 2008, 02:09 GMT - USDJPY formed a short term cycle bottom at 102.58
Published On Wed, May 14 2008, 00:26 GMT - USDJPY is forming a short term cycle bottom
Published On Mon, May 12 2008, 23:58 GMT - EURUSD formed a short term cycle bottom at 1.5284
Published On Mon, May 12 2008, 01:24 GMT
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