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USD/JPY : Test of the daily support at 78

Sentiment :

--- Follow up analysis ---
The pair USD/JPY has continued its bearish movement and has broken yesterday its daily support at 78, giving us a new sell signal. The price seems now to move towards a pullback on this level. In h4, the pair is currently back into its bearish channel from the bottom (purple lines).

We continue to advise short positions as far as 78.50 is resistance. The breakout of 77.66 will give a new sell signal and will open the way towards 78.40.

In case of retun above 78.50, we will be neutral between this level and 79.

Analysis published by Bruno, the 09/12/2012 at 8h40 GMT+2

Full analysis

Complete sheet of the pair USD/JPY - Previous USD/JPY Analysis
Chart of the pair USD/JPY - Timeframe 4H
Chart of the pair USD/JPY - Timeframe 1H
USD/JPY Live Chart - Timeframe : 4h