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Currencies: Technical Strategies
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USD/JPY − How Low Can It Go?
Wed, Jul 16 2008, 12:45 GMT
by Andrei Pehar
Next report will be publish on Wednesday August 6th
We've seen some pretty spectacular drops in many of the Yen
cross pairs these past few days. Are there more lows in store? For
the USD/JPY, the opportunity certainly exists, both from a technical standpoint,
and a fundamental one- but some cooling the upside first is a distinct
possibility.
We are currently riding along support at 104.01, which coincides with the round
number. Several longer timeframes are warning that we may be near the end
of the down cycle, at least for now. If a correction to the upside does
take place, logical areas for resistance would be 104.33, 104.98, and 105.83
If we break below 104.01 and continue to move downwards, then the current
target is 102.76, with support expected on the way at 103.61
Published on Tue, Jul 22 2008, 13:46 GMT
Archive
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Published On Wed, Oct 22 2008, 20:29 GMT - Next Levels to Watch for the EUR/USD
Published On Wed, Oct 8 2008, 21:08 GMT - How to Catch the Next EUR/USD Move
Published On Thu, Sep 25 2008, 12:16 GMT - Yen Ranges Against US Dollar
Published On Fri, Sep 19 2008, 01:19 GMT - Projected Bottom for the GBP/JPY
Published On Wed, Sep 10 2008, 13:48 GMT
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