Forex Analysis : USD/JPY

Earthquakes, tsunami, nuclear meltdown, we have no idea where the Yen might end the week, with wild swings likely.

Trade View
• We may see an extended bearish move in coming days with USD/JPY testing key supports at 81.10 and possibly going below 81.
• Lower supports are seen at 80.90 or so, again at 80.50 or so, and then the November 2010 low at 80.30
• The situation in Japan should mean a sharp increase in oil imports  – to compensate for the loss of nuclear capacity, and indeed a number of SE Asian countries may find the Japanese quickly move production from Japan for autos, electronics and a large number of other industries.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: