Monday, August 12, 2013

USDJPY support threats (ForexTraders)

•****** A bounce and setback Friday maintains downside pressures after the break below the 96.95 June prop, back from ahead of the topping line (now 100.00) to point to a more negative tone and further support tests into mid-August.



•****** The 8-day RSI, short-term momentum is negative, but not OS, leaving scope to go still lower this week.



•****** The risk remains to a 94.85 prop, with the outlook only turning still more negative below the 93.75 low (to aim for the 200-DMA, 93.25).



WHAT CHANGES THIS?



•****** Only above 99.95/100.00 re-energizes bull pressures through 100.90/101.55 chart hurdles, to the 102.50 failure peak; overshoot risk 103.65.



Please see latest audio-visual analysis here: members.marketchartist.com/Daily/ USDJPY.pdf



Daily USDJPY









Originally Published on FX Times



by InformedTrades via InformedTrades

No comments:

Post a Comment