FX.co ★ USD/JPY Technical Analysis Monthly Review for January 3rd/2011

MONTHLY REVIEW :

The USD/JPY is still in the Bearish Trend. This indicates that the pair has already traded below the EMA 5 & EMA 21 and the RSI (13) has traded below the 40 line (now at 34). However if this month the USD/JPY can successfully break out and close below the 80.93 level, it will cause this pair to re-test the strong support 80.20 level.