fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: USD/JPY Daily Outlook  Fri Nov 09, 2012 10:26 am | |
| USD/JPY Daily Outlook Daily Pivots: (S1) 79.20; (P) 79.60; (R1) 79.88; More... At this point, we'd still expect pull back fro 80.67 to be contained by 79.27 support and bring rebound. Above 79.81 minor resistance will flip bias back to the upside for retesting 80.67 first. However, decisive break of 79.27 will argue that rebound from 77.13 has completed and will bring deeper decline back to 77.93/78.86 support zone first. In the bigger picture, firstly, there is no sign of trend reversal in USD/JPY yet and the larger down trend from 124.13 is still expected to continue. Nonetheless, consolidation pattern from 75.56 should extend for a while below 85.51 first. In any case, we'd stay bearish as long as 85.51 resistance holds and expect an eventual downside breakout.  | |
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