USD/JPY Analysis-June 20,2011
Monday, 20 June 2011 04:53
Forex USD/JPY Intraday Analysis - June 20, 2011: Testing the 79.67 level, occurrence Alert Rebound
Yesterday: Open 80.63 High 80.74 Low 80.00 80.03 Close
Since failed to penetrate the diagonal trend line yesterday, the yen freefall past the first support level at 80.29. In fact, almost to the level of support both at 79.94 but to no avail.
Today the movement Yen still looks bullish but for the main line of the stochastic in the oversold area.
The focus of today's economic data for USD / JPY is:
1. JPY Trade Balance at 6:50 pm
2. EUR ECOFIN Meetings "All Day"
If the rise continues then prices likely headed to the 80.66 resistance level.
We recommend that when decreasing the 79.67 support level opportunities.
Prices on the graph H1 stripes seen in the MA05 and MA10 bearish conditions.
While the Stochastic indicator indicating a bullish opportunity.