FX.co ★ USD/JPY For Weekly June 27th to the July 1st / 2011

SHORT DESCRIPTION :

It seems the 80.00 level has acted as a good support for the last few weeks; If the next week this level still acts as a good support, especially if the 80.74 level will be broken by the USD/JPY, it will give the pair a chance to reverse up again to the mark 81.00. This
situation is indicated by the Divergence between the Stochastic and the price. On the other hand, if the next week the mark 80.00 can be broken down by this pair, it will make this pair go down to find the next support at the 79.50 as the primary target and the 79.25 as the second target.