SHORT DESCRIPTION :
Once again the pair is still in the sideways situation, and it is still trading between 79.59 and 81.7; the 2011.05.01 range (the blue box). This situation has been happening for almost 6 weeks; for the next week the mark 80.00 has a potential chance to be tested again by the USD/JPY. If the mark 80.00 can act as a good strong support again for the next week, the 80.75 level the will be tested again, especially if the 80.61 can be broken out easily by the USD/JPY, and this will be a good sign for the Bullish situation for this pair, if this level can be broken, the 82.50 will be the next target. On the other hand if the mark 79.50 can be broken out, it will be the sign for this pair to be Bearish and the 77.50 will be the next target for the USD/JPY, if this situation happens.
