Melbourne Qindex 05:42 GMT March 17, 2011
USD/JPY : Critical Point 80.30 : Reply
EURJPY
Entry: Target: Stop:
USD/JPY : Critical Support 74.23
Melbourne Qindex 05:40 GMT March 17, 2011
USD/JPY : Critical Point 80.30 : Reply
Sell USDJPY
Entry: Target: Stop:
USD/JPY : The market is under pressure when it is trading below 79.63 as indicated in the monthly cycle congested area.
Monthly Cycle Congested Area : 68.84 - 74.23 - (79.63 - 85.02) - 90.42 - 95.81 - 101.21
A negative signal has been hoisted since the market downward trending momentum has been strong enough to penetrate through the weekly cycle pivot center at 79.20. The next major downside barrier is 74.24 // 74.36. Sell on rallies is the preferred trading strategy.
Monthly Cycle Reference / Normal Lower Limits : [54.48] - [56.61] - [67.45] - 70.37 - 72.58 - 74.36 - 75.58 - 75.61 - 76.68 - 79.20 - 79.29 - 80.54
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Melbourne Qindex 23:21 GMT March 13, 2011
USD/JPY : Critical Point 80.30 : Reply
Buy USDJPY
Entry: Target: Stop:
Melbourne Qindex 23:29 GMT March 12, 2011
USD/JPY : Critical Point 80.30 : Reply
USDJPY
Entry: Target: Stop:
USD/JPY : Critical Point 80.30
As shown in the monthly cycle charts the market is trapped within 80.30 and 83.45 for the time being. The odds are in favor of taking a long position when the market is above the critical point at 80.30. The weekly cycle pivot centers are positioning at 81.54 - 81.67 - 82.93. Speculative buying interest will increase when the market is able to trade above the resistant barrier at 82.93 // 83.45. The monthly cycle congested area suggests that the market has a tendency to trade within 79.63 - 85.02.
USD/JPY : Monthly Cycle Charts
http://www.qindex.com/yen.html