[B]DAILY TECHNICAL OUTLOOK ON USD/JPY
Last Update At [/B]
30 Jan 2013 23:51GMT
[B]Trend Daily Chart [/B]
Up
[B]Daily Indicators [/B]
Bearish divergences
[B]21 HR EMA [/B]
91.06
[B]55 HR EMA [/B]
90.90
[B]Trend Hourly Chart [/B]
Up
[B]Hourly Indicators [/B]
Bearish divergences
[B]13 HR RSI[/B]
52
[B]14 HR DMI [/B]
-ve
[B]Daily Analysis [/B]
Consolidation b4 marginal rise
[B]Resistance [/B]
92.12 - Jun 14 2010 high
91.93 - 50% proj. of 88.06-91.26 fm 90.33
91.41 - Y’day’s high
[B]Support [/B]
90.84 - Y’day’s NY low
90.33 - Tue’s low
89.74 - 50% r of 88.06-91.41
[B]USD/JPY[/B] - 91.07 … Dlr went through a ‘roller-session’ y’day. Despite ini tial rise on Japan FinMin Aso comments n then cross-induced rally to a fresh 30-month peak of 91.41, a surprise weak U.S. GDP knocked price briefly but sharply to 90.84 b4 rebounding, however, dlr traded narrowly even after FOMC meeting.
Although consolidation below said y’day’s 91.41 high is expected in Asia, as long as indicated sup at 90.84 (reaction low) holds, dlr’s recent uptrend fm 2011 record low at 75.32 is likely to make marginal headway, having said that, as hourly technical indicators wud display prominent ‘bearish divergences’ on next upmove, reckon projected res at 91.93, being 50% proj. of the MT intermediate rise fm 88.06-91.26 measured fm 90.33, wud cap present upmove n risk has increased for a correction to take place, maybe tom after the U.S. jobs report or early next week. A daily close below 90.33 sup wud yield retrace. twd 89.34.
Today, we’re holding a long position entered on y’day’s brief fall to 90. 84 in anticipation of one more rise. On the downside, below 90.84 wud indicate a temp. top is possibly made n may risk stronger retrace. twd 90.33 b4 recovery.