USD/JPY Exhaustion Signal Maintains Healthy Pullback

By: MIG Bank | Tue, Mar 20, 2012
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USD/JPY's DeMark™ exhaustion signal is continuing to maintain a healthy pullback beneath our risk key level at 83.83/85.

However, this level is currently being re-tested and we need to watch for confirmation above 84.18 to extend the bullish recovery which has already risen almost 10% in only 7 weeks!

Meanwhile, expect the pullback to potentially extend into 82.88 (14th March low), then 82.25. A break here would unlock further moves into 80.59 (07 March swing low) and potentially 80.00 (psychological level).

These levels are expected to hold and offer renewed buying opportunities in our model portfolio for USD/JPY's major long-term 40-year cycle upside reversal.

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MIG Bank

Author: MIG Bank

MIG Bank

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