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FOREX Technical Analysis: USD/JPY Bias Level Moved up to 8164

FOREX Technical Analysis: USD/JPY Bias Level Moved up to 8164

2012-11-22 00:50:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Weekly Candles

FOREX_Technical_Analysis_USDJPY_Bias_Level_Moved_up_to_8164_body_usdjpy.png, FOREX Technical Analysis: USD/JPY Bias Level Moved up to 8164

Chart Prepared by Jamie Saettele, CMT

FOREXAnalysis: The USDJPY has now reached the final cluster of technical resistance (measured levels) before the March highs. A reaction here would present the next opportunity to align with the move for a test of 8345 and potentially a break of the March high at 8417. 8206/30 is now estimated support and the level to trade against is moved up to 8164.

FOREXTrading Strategy: Longs on weakness below 8230 with a stop below 8160 and 8355 target.

LEVELS: 8164 8206 8228 8250 8302 8355

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