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FOREX: Technical analysis 25/10/12

25.10.2012

Market Review

USD / JPY

News background:

The pair continues to receive support amid expectations of further increase the liquidity of the Bank of Japan in the local market. Dollar gets additional support through the Fed confirmed earlier embarked on a soft monetary policy.

Technical picture:

From a technical point of view, the price is in the short-term uptrend. At the top of the Bollinger bands above EMA 5, 21, and SMA 100 and 200. Pair has the potential to rise to the level of the local end of June of this year, 80.60, if it manages to consolidate above the 79.70 level.

Indicators Stoch. and RSI shows overbought.

Trading recommendations. Buy a couple of down on the rebound from a local to 80.60.

Technical analyst at Forex Bulygina Marina.

Analytical department of Grand Capital

Author: admin

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