Japanese Yen (JPY) Technical Major Currencies (2012-02-01)

Stochastic is nearing the oversold areas while RSI 14 continues providing a potential positive divergence. On the other side, Vortex is still giving off negative image for the movements of the USD/JPY pair. Thus, the neutralityremains favored over intraday basis; noting that clearing 76.50 will be a very positive indication and taking 76.00 will threaten all-time low around 75.50 zones.

The trading range for today is among key support at 75.20 and key resistance now at 77.30.

The general trend over short term basis is to the upside, targeting 87.45 as far as areas of 75.20 remain intact.

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