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FX.co ★ USD/JPY Intraday Technical analysis

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Forex Analysis:::2011-05-23T06:34:38

USD/JPY Intraday Technical analysis

USD/JPY Intraday Technical analysis

The spot rate is testing its short-term horizontal support at 81.50. However a break of these levels would entail a return to the lower limit of its medium-term bullish channel to 81.20.

According to previous events, the market indicates a bullish opportunity on the levels of 81.20 with a 1st objective of 81.90, then 82.20. A break in 81.00 would invalidate this scenario.

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