Melbourne Qindex 23:29 GMT March 12, 2011
USD/JPY : Critical Point 80.30 : Reply
Entry: Target: Stop:
USD/JPY : Critical Point 80.30
As shown in the monthly cycle charts the market is trapped within 80.30 and 83.45 for the time being. The odds are in favor of taking a long position when the market is above the critical point at 80.30. The weekly cycle pivot centers are positioning at 81.54 - 81.67 - 82.93. Speculative buying interest will increase when the market is able to trade above the resistant barrier at 82.93 // 83.45. The monthly cycle congested area suggests that the market has a tendency to trade within 79.63 - 85.02.
USD/JPY : Monthly Cycle Charts