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Intra-Day USD/JPY Outolook: March 23, 2012

Published 03/22/2012, 10:46 PM
Updated 01/01/2017, 02:20 AM
USD/JPY
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MAR
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Although dollar has rebounded after yesterday's cross-inspired selloff to 82.33 a minor consolidation would be seen in Asia, as long as 83.02 (prev. sup, now res) holds, mild downside bias remains for recent decline to re-test said o/n low later today. Trade from the short side with stop as indicated, break would risk a stronger gain to 83.14/18.

Range Forecast
82.51 / 82.90

Resistance/Support
R: 83.02 / 83.18 / 83.47
S: 82.33 / 81.97 / 81.87
    
Last Update At
23 Mar 2012 02:17 GMT

Rate     
82.83     

Position
Short at 82.75

Strategy/Entry Level
Hold short

Objective     
82.45     

Stop-Loss
82.95

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