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USD/JPY – May 23, 2011: Test Level 81.99, Potential Double Top Pattern Formed |
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Monday, 23 May 2011 04:45 |
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Yesterday: Open 81 67 High 81.88 Low 81 48 Close 81.69
By the early European trading session yesterday, the movement of the currency to the Yen's bullish trend sideways to reach the highest level in daily 81.88.
Overall range high low daily Yen yesterday around 40 pips.
Currently, the visible movement of the Yen bullish but when the highest level yesterday not impregnable, potential double top pattern formed.
The focus of economic data today for the USD/JPY is JPY BOJ Monthly Report at 12: 00 PM
When the ride continues then the price may be headed to the level of resistance and 82 81.99.22.
Preferably when experiencing drop berkelanjut and passes through the diagonal then price trend line opens opportunities to level break line at 81 48 as well as the level of support and 80 81.24.94.
The price on the graph visible line MA05 H1 and MA10 in bullish.
While the Indicator Stochastic indicating a bullish may be limited.
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