fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: Technical Analysis for USDJPY  Tue Oct 01, 2013 8:38 am | |
|  Technical Analysis for USDJPY The pair remains under pressure, as recovery rally from fresh low at 97.48 was capped by bear-trendline at 97.70. Hourly studies are losing traction, with 4-hour technicals maintaining negative tone that sees increased risk of lower top formation and resumption of bear phase from 100.60, with slide below 97.48, required to confirm. Bearish continuation to focus 97.00 zone, higher platform / Fibonacci 76.4% of 95.78/100.60 and broken bear channel line, drawn off 101.52 peak. Any stronger recovery would require clear break above 99.00 barrier, to avert immediate downside risk. Res: 98.00, 98.45, 98.71, 99.00 Sup: 97.62, 97.48, 97.00, 96.90 | |
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