| USD-JPY Technical - 16/Feb/2011 |
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USDJPY break triangle on daily chart and going up side toward daily resistance at 84.48. USDJPY will come down to 82.68, also trend line pass there. USDJPY break of 84.48 daily resistance, further going up side toward 85.65 which is 127.2% Fib No. extension from 80.23 to 84.49. Not break of 84.48 level then going also see double top. Also counter ABCD pattern forming on daily chart from 80.87 to 83.67 which back from 74.6% Fib No.
In bigger range going up side at 85.65 from 80.23 to 84.49, extension at (85.65) 127.2%, at (87.14) 161.8%
Strategy: Buy from support.
Range: 83.84to 83.12 or 83.40 to 84.12
R3-84.34, R2-84.06, R1-83.89, PP-83.62, S1-83.34, S2-83.17, S3-82.90.
USDJPY break triangle on daily chart and going up side toward daily resistance at 84.48. USDJPY will come down to 82.68, also trend line pass there. USDJPY break of 84.48 daily resistance, further going up side toward 85.65 which is 127.2% Fib No. extension from 80.23 to 84.49. Not break of 84.48 level then going also see double top. Also counter ABCD pattern forming on daily chart from 80.87 to 83.67 which back from 74.6% Fib No. In bigger range going up side at 85.65 from 80.23 to 84.49, extension at (85.65) 127.2%, at (87.14) 161.8% Strategy: Buy from support. Range: 83.84to 83.12 or 83.40 to 84.12 Pivot: R3-84.34, R2-84.06, R1-83.89, PP-83.62, S1-83.34, S2-83.17, S3-82.90.
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