USDJPY Higher Lows In The Works
2012
The USDJPY faltered on another attempt to break above the range that has contained it for the last few weeks. On Wednesday the pair made another lower high. The cross has respected the ascending trend line throughout the current march higher. It looks as though the pair is attempting to move higher. Support can be found at the trend line at 78.30. Resistance rest at the top of the current range at 78.70. A break to the top of the range could lead to a test of 79.15 followed by 80. A break of the trend line and we could see another test of support at .78. The JPY Rate Decision is due in early Asian trading.
Sup 78
Res 78.70
Keane Plan: Looking for either a bounce of the trend line or a break of 78.60 to ride higher.
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