Daily Analysis for USDJPY, 29.10.2012

The currency pair USDJPY attempted to go higher last week and to form top at 80.37, but it closed lower at 79.62 on Friday. The expectations are neutral in nearest term but yet it is possible a bullish scenario at this phase. There is a short-term support at 79.40. A clear break below  could lead to further downside pressure for testing 79.00. Immediate resistance is 79.75/80. A clear break above that level could trigger upward pressure testing resistance 80.00/50  that should be broken for the continuation of the bullish scenario.

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