USD/JPY : New easing from the Bank of Japan
--- Follow up analysis ---
The pair USD/JPY has validated the breakout of the psychological level at 80 last week and is now moving between this level and 80.50. The price just made a new pullback on the support at 80, making appear a new short term bullish channel (blue lines). On the medium term, the pair is moving juste above the upper band of the bullish channel (black lines).
We continue to advise long positions as far as 79.81 is support. The breakout of 80.50 will give a new buy signal and should allow the price to pursuit its movement towards the resistance at 81.
In case of return below 79.81, we will be neutral between this level and 79.41.
Analysis published by Bruno, the 11/07/2012 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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