Thursday, June 24, 2010

Another Breakout (2010-06-24 USDJPY analysis)

After my post about the breakout of EURGBP yesterday, it is currently testing again. The price breaks the support but we have to wait till tomorrow for confirmation. Today I would recommend another breakout.



Above is daily chart to USDJPY. The price broke the triangle few days ago and went straight downwards. Though it has already plunged quite a lot, I would predict a further drop to the support area at 88.10 - 88.54. At this area, the price should have a bit rebounce. Further drop would depend on whether USDJPY could break this area.

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