International Business Times

By Roger Baettig | February 5, 2013 07:25 GMT

USD/JPY Technical Analysis (US Dollar / Yen)

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USD/JPY Technical Analysis (US Dollar / Yen)

Forextribe
Updated the:
02/05/2013
USD/JPY : A new annual high result of the takeover of the right in Japan

Sentiment :

91.27

90.44

--- Follow up analysis ---
The pair USD/JPY gave us a new buy signal by breaking the resistance at 92. This has allowed a test of the daily resistance at 93.33 before the price made a pullback on the support at 92 and on its short term bullish slant (blue line). Support levels were slightly changed to fully take all recent highs and lows.

We continue to advise long positions as far as 91.27 is support. On the medium term, the price has reintegrate its bullish channel (brown lines). The break of 93.33 will give a new buy signal and would allow the price to extend its movement towards 94. However, if the bullish slant is broken, an extension of the correction is expected to 91.27.

In case of return below 91.27, we will be neutral between this level and 90.44. This level corresponds to the lower limit of the bullish channel and its break would give a sell signal.
Full analysis

Analysis published by Bruno, the 02/05/2013 at 8h45 GMT+2

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