1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

USDJPY rebounded from 76.35

Discussion in 'Technical Analysis' started by ForexCycle.com, Aug 10, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    Being contained by 76.29 previous low support, USDJPY rebounded from 76.35. Another fall to re-test 76.29 support is still possible later today, a breakdown below this level could signal resumption of the long term downtrend. Resistance is now located at 77.19, a break above this level will indicate that a cycle bottom has been formed on 4-hour chart, then lengthier consolidation in a range between 76.29 and 80.23 could be seen.


    Daily Forex Forecast

Share This Page