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| USDJPY |
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| USDJPY Daily |
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Updates on 4-Oct-2012:
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| USDJPY Daily |
A Full Time Trader's Blog. The Forex and Commodities Trading with Technical and Fundamental Analysis
Wednesday, October 3, 2012
USDJPY above 61fibo
USDJPY is currently knocking at 61.8fibo of its fall from 19-Sep-12 high of 79.15. It has also broken up the ascending channel and price action looks bullish. On pullbacks, upper boundary of channel is expected to provide support.
On daily chart price is still below 100MA and 200MA. Previously on many occasions, it has found tough to break area of 100 & 200MA. But at the same time, pair is well respecting the rising trendline.
Updates on 4-Oct-2012:
Pair has moved impressively up and is currently hitting 100MA. On several previous occasions it has found difficult to hold gain above both 100MA and 200MA. Traders may eye this area for shorting this pair.
Updates on 4-Oct-2012:
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