Main analysis

Update for: 2011-11-28 - 2011-12-04

Posted on: Sunday, 27 November 2011 15:48


USDJPY: 77.71

 Short-Term Trend:  weak downtrend


This market remains quite boring but if we are objective we have to acknowledge that the bulls have managed to gain slight advantage last week. Right now there is a weak uptrend on the very short-term charts (hourly, 30-min) and the daily oscillators try to turn up. So, some follow through buying may be expected early this week. However, as long as the prices stay below the prev. swing high at 79.50/60, the larger-degree outlook remains bearish and we expect to see a resumption of the daily downtrend later this week. But only a move below 76.10/00 will indicate that the bears are taking control here.
On the upside, abv 79.60 negates, risks stronger recovery twd 81.50/82.00 area...

Strategy: Stand aside.

Next Update: Sun, 12/04/2011.

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