USDJPY Analysis.
USDJPY breaks below 109.13 key support and formed a short term cycle top at 110.40 on 4-hour chart. Initial resistance is now located at 109.13, as long as this resistance holds, we’d expect down trend to continue, and deeper decline towards 107.00 level is still possible in a couple of days.

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This entry was posted on Wednesday, August 13th, 2008 at 1:53 and is filed under Short Term Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.