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USD/JPY : Test of the daily support at 78

Sentiment :

--- Follow up analysis ---
A new bearish wave occured yesterday on the pair USD/JPY who broke the support at 77.66, giving us a new sell signal. The price is currently moving just below this level after a low at 77.13. The strengh of the movement is showed by an exit of the bearish channel from the bottom in h4 (purple lines).

We continue to advise short positions as far as 78.04 is resistance. The breakout of 77.40 will give a new sell signal and will open the way towards 77.

In case of return above 78.04, we will be neutral between this level and 78.50.

Analysis published by Bruno, the 09/14/2012 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