USD/JPY : Simple correction or trend reversal?
--- Follow up analysis ---
The pair USD/JPY got out yesterday of our neutral zone 78/78.32 from the top, giving us a buy signal and validating a new trend reversal. The last bullish movement is leading in h1 by a bullish slant (black line) and has allowed an exit of the medium term bearish channel (purple lines).
We continue to advise long positions as far as 78.20 is support. Our objective is still the same at 78.80. The breakout of this level will give a new buy signal and will open the way towards 79 and 79.18 in extension.
In case of return below 78.20, we will be neutral between this level and 78.
Analysis published by Bruno, the 10/04/2012 at 9h00 GMT+2
Chart of the pair USD/JPY - Timeframe 4H
Chart of the pair USD/JPY - Timeframe 1H
|USD/JPY Live Chart - Timeframe : 4h|
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