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USD/JPY Classical Technical Report 06.29

USD/JPY Classical Technical Report 06.29

2012-06-29 06:40:00
Joel Kruger, Technical Strategist
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daily_classical_jpy_body_usd.png, USD/JPY Classical Technical Report 06.29

USD/JPY:Some very constructive price action in recent sessions with the market clearing some critical short-term resistance by 79.80 and then breaking back above psychological barriers at 80.00. This now opens the door for a potential medium-term higher low in place by 77.65 ahead of the next major upside extension back towards and eventually above the 2012 highs by 84.20.

--- Written by Joel Kruger, Technical Currency Strategist

To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger

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