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

USDJPY’s bounce extended to 88.11

Discussion in 'Technical Analysis' started by ForexCycle.com, Jul 28, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Joined:
    Sep 1, 2008
    Messages:
    914
    Likes Received:
    0
    USDJPY’s bounce from 86.26 extended to as high as 88.11 level. Further rise towards the upper boundary of the falling price channel on 4-hour chart is still possible, and next cycle top is nearing. Key support is at 86.80, a break below this level will indicate that a cycle top has been formed at 88.11, then the following downward movement could bring price towards 84.82 (2009 low).

    [​IMG]

    Daily Forex Forecast
     
Loading...

Share This Page