Update for: 2012-11-05 - 2012-11-11

Posted on: Sunday, 04 November 2012 20:03

usdjpy st 20121104

USDJPY: 80.42

Short-Term Trend: uptrend


The bullish strategy that we adopted a couple of weaks ago is doing well as USD has now come close to the key 80.60 level. In fact, this level was marginally broken on Friday when the market printed a high at 80.67. But we still want to see a more meaningful move above 80.60. Then we will favor a rally twd 83.80.
On the downside, a decline back below 79.25 will negate the afore-said bullish view.

Strategy: Holding long from 79.25 is favored. Stop=79.25

Next Update: Sun, 11/11/2012.

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