WEEKLY OVERVIEW :
Last week the pair had a Bearish momentum, this is indicated by the fact that the spot rate traded below the 10 Week's periode Simple Moving avarage, the slope of this avarage is pointing down and the stochastic studies is still pointing down too; the closing price of the previous weekly candle is below the opened and below the low of April 17th/2011 weekly candle, all these facts indicate the Beaish situation is still in advance for the USD/JPY. This whole week this pair is expected to be testing the Fibonacci Support 50% at the 81.03 level, if this level can be broken it will cause the pair to go down again to reach the next target support at the Fibonacci 61.8% at the 79.95 level. However, please pay attention to the 82.79 level, if this level can be broken by this pair, it will lead to the 83.29 level .
