Weekly Technical Commentary |
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USD/JPY Chart Levels: Support 95.00..94.00..93.55..92.75. Resistance 96.58..97.00..98.58..98.88 The very long term trend to lower prices is intact, the corrective bounce of Q1 2009 followed by a potential ‘head-and-shoulders’ interim top in Q2. The weekly Ichimoku ‘cloud’ has limited recent ranges on the upside and should now set up a test of the ‘neckline’ in the increasingly pivotal 94.00 area (also Fibonacci retracement support). This also represents the rough mid-point of
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