USD/JPY Technical Analysis (US Dollar / Yen) - Forex
International Business Times
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February 27, 2013 12:22 AM EST

Forextribe
Updated the:
02/26/2013		 USD/JPY : Beginning of the big correction?

Sentiment :
sentiment sur la parité AUD/USD
94.18
sentiment sur la parité AUD/USD
93
sentiment sur la parité AUD/USD

--- New analysis ---
The pair USD/JPY opened the week on a bullish gap. The price has tested again the resistance at 94.18 but a powerful bearish rally has occurred due to the uncertainty in Italy. Indeed, the Yen is considered as a safe haven by investors. The pair has broken all support levels and it is the break of 92.37 which gave us the sell signal. A pullback already occured on this level. The pair has validated its medium term bullish channel output (brown lines) and is moving towards the long-term bullish slant (purple line).

We now recommend to trade only short positions as far as 93 is resistance. A break of 91 will give a new sell signal. This level corresponds to the bullish slant. Thereafter, the price should also break the support at 90.45 to continue its downtrend towards 88.

In case of return above 93 (lower limit of the former uptrend channel), we will be neutral between this level and 94.18.
Full analysis

Analysis published by Bruno, the 02/26/2013 at 8h45 GMT+2
- Complete sheet of the pair USD/JPY - Previous USD/JPY Analysis -
Chart of the pair USD/JPY - Timeframe 1H
USD/JPY Technical Analysis
Chart of the pair USD/CAD - Timeframe 4H
USD/JPY Technical Analysis
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