Updated the:
07/11/2012
USD/JPY : Take up of the bearish trend?
Sentiment :
sentiment
79.68
sentiment
79.22
sentiment
Since several days and the test of the psychological level at 80 as resistance, the pair USD/JPY is making a correction. The price got out of its bullish channel (purple linesà. However, a strong zone of support is at 79.22. This level is currently tested.

Another element is going to the side of the take up of the bearish trend, a descending triangle appears in h1 and h4 and 79.22 is the support. The breakout of this level will give a sell signal. The objective will then set at 78.66.

However, in case of rebound on the support at 79.22, we will wait the breakout of 79.68 to advise long positions and expect a test of the resistance at 80.58.
Analysis published by Bruno, the 07/11/2012 at 8h40 GMT+2

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Chart of the pair USD/JPY - Timeframe 4H

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Chart of the pair USD/JPY - Timeframe 1H

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USD/JPY Live Chart - Timeframe : 4h

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