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

USDJPY's downward move extended to 81.26

Discussion in 'Technical Analysis' started by ForexCycle.com, Apr 26, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDJPY continued its downward movement from 85.51, and the fall extended further to as low as 81.26. Initial resistance is at the upper border of the price channel on 4-hour chart, as long as the channel resistance holds, the downward move could be expected to continue and next target would be at 80.50-81.00 area. Only a clear break above the channel resistance could indicate that the fall from 85.51 is complete, then further rally could be seen to 83.50 zone.


    Forex Signals

Share This Page