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USD/JPY Could Rally From Triangle Support
Written by article default Tuesday, 01 February 2011 16:11
USD/JPY
- The daily chart shows the USD/JPY in a triangle which has been in swings of about 78.6% retracement. The last is no different, falling below 82.00, to test the 81.50 area and rising support of the triangle.
- We should probably consider a a chance for a rally from here.
- However, the bullish outlook remains contained below 82.25. Then 82.60, and 83.12 are your next near-term, short-term targets.
- Let’s see if the market finds support.
Will the USD/JPY respect the triangle support? We would love to hear what you think.