FX.co ★ USD/JPY For Weekly July 4th / 2011 to July 8th / 2011

SHORT DESCRIPTION :

Last week USD / JPY managed to make the closing price on the 10-week Simple Moving average and above the highest price bars two weeks ago at 80.79. For this week the 80.70 level is likely to be retested by this currency; if successfully penetrated it will bring the USD / JPY to the mark 80.00 area again, especially if the level of 80.44 is broken by this currency. Conversely, if the currency manages to break through the 81.20 level it can be ascertained that last week bullish situation will be continued.