FX.co ★ USD/JPY Daily Forecast For April 27th / 2011

DAILY FORECAST :

This pair is still in a sideways situation; but now the USD/JPY has a strong downtrend movement t indicated by the fact that the spot rate traded below the 5 days periode Simple Moving Avarage (green) and the 20 Days Periode Simple Moving Avarage (blue); and the Stochastic Studies is in the oversold area (it means the Bearish pressure is strong), despite the Stochastic studies Today if this pair can break out and close above the 81.80 it will make the USD/JPY go up to the 82.00 level as the first target and the 82.25 level as the second target, on the other hand if the USD/JPY can break out and close below the 81.25, it will lead this pair to advance the downtrend situation to the mark 82.00 as the first target and the 80.75 as the second target.