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USD/JPY: New Lows To Come! by forexpros.com

Sameer Kapoor 30 May 2012

USD/JPY slowed down during the past few days, which now appears to be a corrective movement maybe a triangle placed in wave B), in the middle of a larger complex downward correction. Larger time frame shows a nice equality level for (W)=(Y) at 78, which will be our focus within wave C) that should break lower in days ahead. Any deeper higher pull-back will look for a reversal at 80.56 key resistance area.

Forex Analysis by Gregor Horvat at ForexPros. com