Update for: 2012-03-19 - 2012-03-25

Posted on: Sunday, 18 March 2012 20:01


USDJPY: 83.42

 Short-Term Trend:  uptrend


USD/JPY has reached my first upside objective at 83.80. The market has pulled back a bit from there but this pullback has been quite choppy. So, I think the upmove from the early Feb low is far from its completion. If USD manages to clear firmly the 83.80 level, a rally twd 87.40 will be favored. On the downside, a move below 81.80/70 negates and risks deeper pullback of the most recent gains....

Strategy: Holding long from 79.70 is favored. Stop= 81.60. Target=87.00

Next Update: Sun, 03/25/2012.

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