USD/JPY : China, responsible for the fall of the Yen
--- New analysis ---
Due to the conflict between China and Japan, the isle has seen its exports falling strongly. Since several weeks, the Yen is into a bearish trend against the US Dollar. The major resistance at 80 has just been reached as we expected.
Graphicaly, the price is now movinv above its medium term bullish channel (purple lines) and is taking support on the upper band of its short term bullish channel (blue lines en h1).
We continue to advise long positions as far as 79.30 is support. The breakout of 80 will give a new buy signal and will allow the price to pursuit its movement towards 80.50 and 81.
In case of return below 79.30, we will be neutral between this level and 78.93.
Analysis published by Bruno, the 10/23/2012 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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