USD/JPY Technical Analysis (US Dollar / Yen)

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January 25, 2013 1:51 AM EST

Forextribe
Updated the:
01/24/2013
USD/JPY : A new annual high result of the takeover of the right in Japan

Sentiment :

88

87

--- Follow up analysis ---
The pair USD/JPY has made a pullback yesterday on the support at 88 before resuming its uptrend background and reinstate its medium term bullish channel (brown lines). The price now seems to move towards a new test of the psychological level at 90. However, the pair must overcome first a short term bearish slant (blue line).

We continue to advise long positions as far as 88 is support. A stay above 89 would comfort our bullish sentiment. This level corresponds to the lower limit of the channel. The upward break of 90 should allow a further bullish momentum on the pair towards 91/91.50.

In case of return below 88, we remain neutral between this level and the major support at 87. This level corresponds to a bullish slant which is leading the long-term uptrend since last November.
Full analysis

Analysis published by Bruno, the 01/24/2013 at 8h45 GMT+2

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