USDJPY Classic Technical Report 10.04.2012
Prices continue to press higher after taking out support-turned-resistance at 77.96. The bulls now aim to challenge 78.83, a horizontal barrier reinforced by the top of a falling channel set from late July (now at 78.93). The 77.96 level has been recast as near-term support, with a push back below that exposing 77.47 anew.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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