coondawg71

USDJPY Cycle Analysis shows 102.90 is critical level

FX:USDJPY   U.S. Dollar/Japanese Yen
38 0 1
USD Yen currently sits on a critical level. Cycle analysis shows if a daily candle closes above this figure (which is very well may be pulled to the obvious Big Round Number of 103.00) it could pull violently upwards to 103.50 (next critical level for this pair) only to return the the 102.90-103.00 area just as quickly as there is not enough support for price to sustain than level as of yet. Conversely, price can be rejected heavily and return to lower support levels sitting at 102.63, 102.45, 102.27.
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