Forex − Chart USD/JPY Update: Attempting to push higher
Friday, July 23, 2010
, Posted by Usman Ali Minhas at 10:29 AM
23 Jul USD/JPY Daily
14:15 - The s/t rally continues- the USD's on a small spring higher off the overnight high 87.20 but still needs to drive on past the s/t ceiling at 87.65-75 to firm a base (and then past 89.00 as well for a longer term base.) Without those trades, time spent in the range below 87.50/ 88.00 makes it more likely that a test of 86.00 will have to follow. [NR]
14:15 - The s/t rally continues- the USD's on a small spring higher off the overnight high 87.20 but still needs to drive on past the s/t ceiling at 87.65-75 to firm a base (and then past 89.00 as well for a longer term base.) Without those trades, time spent in the range below 87.50/ 88.00 makes it more likely that a test of 86.00 will have to follow. [NR]
R5: 88.40 * fr 8-Jul high volume
R4: 88.10 15-Jul high volume
R3: 88.00 lows since Oct-89
R2: 87.65-75 * 1-8-Jul high volume
R1: 87.60 20-Jul high
S1: 86.75~ fr 26-Nov-09 pivot
S2: 86.50 Thurs am high volume
S3: 86.25-30 16, 22-Jul lows
S4: 85.85 30-Nov-09 low
S5: 84.80 * 27-Nov low
R4: 88.10 15-Jul high volume
R3: 88.00 lows since Oct-89
R2: 87.65-75 * 1-8-Jul high volume
R1: 87.60 20-Jul high
S1: 86.75~ fr 26-Nov-09 pivot
S2: 86.50 Thurs am high volume
S3: 86.25-30 16, 22-Jul lows
S4: 85.85 30-Nov-09 low
S5: 84.80 * 27-Nov low
