| USD-JPY Technical - 14/March |
| Written by Praful Patat | ||||||||||||||||||||
| Monday, 14 March 2011 05:31 | ||||||||||||||||||||
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USDJPY backed from 127.2% extension from 81.56 to 83.96 and retrace 61.8% at 82.25, 127.2% projection at 79.86. Break of 82.75 then going further up side toward 83.70 resistance, otherwise down projection. USDJPY is forming triangle on daily chart still in progress. USDJPY rebounded from 61.8% at 83.04, extension 127.2% at 80.90, 161.8% at 80.07 still valid. USDJPY tested lower triangle line. Strategy: USDJPY sell from 82.90 target 82.13, 81.56 stop loss 83.85 New High: 82.56, 83.39, 82.66. New Low: 80.91, 81.74, 81.01. Pivot: R3-83.90, R2-83.27, R1-82.88, PP-82.25, S1-81.63, S2-81.24, S3-80.61. USDJPY backed from 127.2% extension from 81.56 to 83.96 and retrace 61.8% at 82.25, 127.2% projection at 79.86. Break of 82.75 then going further up side toward 83.70 resistance, otherwise down projection. USDJPY is forming triangle on daily chart still in progress. USDJPY rebounded from 61.8% at 83.04, extension 127.2% at 80.90, 161.8% at 80.07 still valid. USDJPY tested lower triangle line.
Strategy: USDJPY sell from 82.90 target 82.13, 81.56 stop loss 83.85
New High: 82.56, 83.39, 82.66.
New Low: 80.91, 81.74, 81.01.
R3-83.90, R2-83.27, R1-82.88, PP-82.25, S1-81.63, S2-81.24, S3-80.61.
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