Wednesday, November 28, 2012

$USDJPY Update

The pair is currently forming correction pattern. Dollar weakened  to 81.85 earlier today but quickly rebound above 82.00. I expect price movements between the projected trendlines targeting 81.50. US home sales data will surely be the main focus. A surprise will likely keep USDJPY in its current pattern while focus will then shift to Japan retail sales and another set of US data on Thursday.

$USDJPY 4-Hour Chart  

$USDJPY 1-Hour Chart

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