USD/JPY fell for most of the session on Monday, but bounced during the day as the 82 handle held as support. The 50, 100, and 200 day EMAs all point higher, and the market has also cleared a major resistance area in the 80 handle as well as a massive trend line lately. This suggests to us a trend change, and we are playing this pair as such. In fact, we are already long, and will be looking to add to our positions as we think 85 will more than likely be seen soon.

USD/JPY

USD/JPY Forecast March 20, 2012, Technical Analysis

USD/JPY Pivot Points (Time Frame: 1 Day)

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
82.5673
82.7897
83.1163
83.3387
83.6653
83.8877
84.2143

 Fibonacci
82.7897
82.9994
83.1289
83.3387
83.5484
83.6779
83.8877

 Camarilla
83.2920
83.3423
83.3927
83.3387
83.4933
83.5436
83.5940

 Woodie's
-
82.8157
83.1685
83.3648
83.7175
83.9137
-

 DeMark's
-
-
83.7765
83.3942
83.2275
-
-