USDJPY Testing the .618 Fib
2012
The USDJPY continued its crawl higher today and is now challenging the top of its fib range at the .618 fib at 78.51. A break of this level opens the pair up to a test of the descending trend line currently at 78.85. This level will be key for a break or hold of the current trend. A break exposes 79.65. A hold push's the pair back into the fibs.
Sup .7750
Res .7885
Keane Plan...On the sideline waiting for a test of either 78.85 or 77.50.
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