USDJPT Respects the Trend Line
05
Oct
2012
2012
The USDJPY had the purest reaction to the NFP report. The cross pushed higher after the data until running into trend line resistance just above 78.80. The trend line at 78.80 has contained the pair since June and won't be passed by without a fight. Heading into the new week the TL at 78.80 is resistance and the bottom of the fib range at 78.10 should act as support.
Sup 78.10 77.50
Res 78.80 79.65
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Keane Plan...waiting for a break of either the fib range or TL resistance.
