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The Usd/Jpy

Posted on August 21, 2008 at 11:39 in Short-Term Analysis by Valeria Bednarik

The Japanese Yen recovered strongly in the Asian session, turning the pair bearish: under actual minimum, 108.60 next support will be the strong congestion zone around 108.25/35, that should offer rebound before getting broken; a confirmation under that zone, could take the pair to next strong support at 107.89, minimum of the pair seen for today. Failure to confirm under 108.60 and with CCI exhausted in 4 hours charts, a recovery will take place above the 108.92 area, sending the pair back to 109.20 zone and finally to 109.55.

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