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Aug 06

TECHNICAL ANALYSIS BY NSFX 06.08.2013

By:admin

High:  Low: 

After being rejected at the 38.2% Fibo retracement in the recent wave, USD/JPY was offered yesterday and close back in the Cloud, where support has been found at the current Cloud base at 98.76. It could get nasty if  selling pressure is sustained and the bottom formation at 97.60 is taken out, opening up for a move towards 96.15-area. Upside, we need to get back above the Cloud and the 50/100-day SMAs in order to maintain overall bullish momentum.

R3
R2
R1
S1
S2
S3