USD/JPY : Neutral zone between 78 and 78.33
--- Follow up analysis ---
After a new pullback on the upper band of its former medium term bearish channel (purple lines), the pair USD/JPY has rebounded and got out of its neutral zone 78/78.33 from the top, giving us a buy signal. On the short term, the price has also broken its bearish slant (blue line).
We advise to trade only long positions as far as 78.33 is support. This level already acted as support several times during the night. We target first a return on 78.80 and 79 in extension.
In case of return below 78.33, we will be again neutral between this level and 78. We will then advise to wait a new exit of this range to take position.
Analysis published by Bruno, the 10/12/2012 at 8h45 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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