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TECHNICAL DATA: USD/JPY - Friday Jul 4

	EUR / USD		GBP / USD

Current Fundamentals	Upcoming Events	Indicator Charts NEW!	Commodity Currencies

Note: Bid/Ask quotes do not change instantaneously in this table.

Thus: The spreads may differ to the fixed spreads on your platform.


	Full range of our Bid/Ask spreads

Read about:

Bollinger Bands ( PDF, 250 Kb )

Candlesticks ( PDF, 290 Kb )

MACD ( PDF, 100 Kb )

USD/JPY Key Technical Support / Resistance Points

Resistance 3	110.00	Psychological Barrier
Resistance 2	108.95	High Jan 14
Resistance 1	108.59	High Feb 14
Current Spot	106.71	Close Jul 3
Support 1	95.78	Low Mar 17
Support 2	95.00	Next Barrier
Support 3	94.00	Next Barrier

USD/JPY – Technical Indicators: Close Jul 3 2008

Indicator	Reading	Interpretation	Signal
Momentum*	-1.30	Downside, Rising	Bearish
RSI**	52.58	Rising	Neutral
Stochastic Slow***	%D 35.45 %K 29.61	Rising	Neutral
ADX	19.15	No Trend	Indecision
Candlestick	Long Period	Upside	Bullish
MACD	0.28	MACD is Positive but decreasing	Bearish
Bollinger Bands	Low: 105.26 High: 108.93	Bands contracting as price is moving sideways	Indecision
Moving Averages #	3 day = 106.39 20 day = 106.62 60 day = 105.52 100 day = 104.08	Price closed above all key MA levels	Overbought

*10 Day Period. ** 14 Day Period. *** Parameters = 14,3,3

# 100 Day is simple Moving Average. 3, 20 and 60 day are Exponential Moving Averages

Technical Note

The pair rose sharply on Thursday, the dollar rebounding after the yen again failed to make any impression below 105.80. The dollar gained over 80 pips on the day. Momentum is with the yen on the dailies into Friday and MACD, which signals a positive uptrend, is decreasing in value and it too favours the yen. The RSI and Stochastic indicators are neutral and allow scope for price movement on either side. The ADX indicator does not signal any real trend and the Bollinger trading bands are contracting as price fluctuates and the pair could yet move in either price direction. If the dollar does extend its rally into Friday, a sustained break above 106.80 should see the pair rise to take on the 107 line, where any sustained break could trigger a rise to 107.50, with the prospect of a return to the 108 line next week.

If the yen somehow manages to regain control and the pair does drift lower on Friday, a break below 106.20 could see the pair slide to take on further support at the 106 line. Any sustained break below this point could trigger a near-term retreat to 105.50, with the prospect of a retest of key dollar support at the 105 line next week.

Liquidity will be low on Friday because of a holiday in the US and traders are advised that market conditions will be very thin ahead of the weekend and price moves could prove to be misleading and be easily reversed on Monday, when normal liquidity volumes return.

CHARTS (click to enlarge and get clearer view)

Candlestick Chart

Bollinger Bands Chart

MACD Chart

	EUR / USD		GBP / USD