USDJPY: Having reversed its previous week gains to close lower the past week, the risk is for USDJPY to weaken further in the days ahead.

1. Sunday, 29th of April, 2012 FXTechstrategy Team
info@fxtechstrategy.com
SPECIAL FOCUS
USDJPY
USDJPY: Loss Of 80.29 Level To
Open Further Declines.
USDJPY: Having reversed its previous
week gains to close lower the past week,
the risk is for USDJPY to weaken further
in the days ahead. Support lies at the
80.00 level, its psycho level/Feb 28’2012
low with a violation of there calling for a
move lower towards the 78.18/27 levels
and possibly lower. Its weekly RSI is
bearish and pointing lower supporting
this view. Alternatively, the pair will have
to break and hold above its April
04’2012 high at 81.85 to halt its
downside pressure and then bring gains
towards the 82.53 level. All in all, as
long as USDJPY continues to hold below
the 84.17 level, there is risk of further
declines.
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