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TECHNICAL DATA: USD/JPY - Thursday Jul 3

	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	105.88	Close Jul 2
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 2 2008

Indicator	Reading	Interpretation	Signal
Momentum*	-1.93	Downside, Falling	Bearish
RSI**	46.04	Falling	Neutral
Stochastic Slow***	%D 29.17 %K 28.24	Rising	Neutral
ADX	19.93	No Trend	Indecision
Candlestick	Short Period	Downside	Bearish
MACD	0.31	MACD is Positive but decreasing	Bearish
Bollinger Bands	Low: 105.15 High: 108.96	Bands contracting as price is moving sideways	Indecision
Moving Averages #	3 day = 106.07 20 day = 106.65 60 day = 105.49 100 day = 104.09	Price closed between 20 and 60 day MA levels	Coming back to realistic price level

*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 ended the session on Wednesday down a modest 28 pips as neither side was able to carve out an advantage. Momentum is still seen to favour the yen on the dailies into Thursday and MACD, which signals a positive uptrend, is decreasing in value, and it too lends bias to 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 with the Bollinger trading bands contracting as price moves sideways, the pair could ye move in either price direction. If the yen does take the pair lower on Thursday, a break below 105.50 could see the pair fall more sharply back towards the 105 line. Any sustained break below 105 could prove to be significant and could lead to an ultimate decline to 104 over the next few sessions.

If the dollar does manage to regain control of direction and the pair does push higher on Thursday, a break above 106.20 could see the pair rise to take on key resistance at 106.80. Any sustained break above this level should see the pair rise to 107 and set up a possible return to the 108 price line over the coming week.

CHARTS (click to enlarge and get clearer view)

Candlestick Chart

Bollinger Bands Chart

MACD Chart

	EUR / USD		GBP / USD