Daily Analysis for USDJPY, 16.11.2011

Yesterday, the currency pair USDJPY made a sharp increase again. The pair opened the day at levels of 80.12 and during the first few hours it followed a neutral movement. But then, USDJPY again realized a significant rally and went through two similar resistances located, respectively, at values of 80.36 and 80.60. Around the middle of the session the pair slowed its momentum and began to move neutral and closed at 81.11 levels. If the USDJPY continues to move upward, it could be expected to attack the resistance of 81.44. If the pair reverses its way, it will find any support around 80.70 levels.

Support: 80.72, 79.26, 77.42;
Resistance: 81.44;

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