News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
USDJPY Classic Technical Report 08.15.2012

USDJPY Classic Technical Report 08.15.2012

Ilya Spivak, Head Strategist, APAC

Prices took out range top resistance at 78.60 and a falling trend line set from the late-June swing top. The bulls are now probing through the top of a rising channel set from the July 26 low (78.81) to challenge the 79.00 figure. Resistance is further reinforced by the June 29 low at 79.12, with a break above this boundary targeting 79.91. The 78.60 level has been recast as support.

USDJPY_Classic_Technical_Report_08.15.2012_body_Picture_5.png, USDJPY Classic Technical Report 08.15.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to ispivak@dailyfx.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES