TECHNICAL ANALYSIS OF USDJPY 17/1/2011
From USDJPY reached the minimum in November (80.22) was followed by a clear rise in an impulsive (5 waves), this signal that the first part of the correction (wave A) was completed at 84.41. To it was followed by a flat irregular waves in 3 (B) with a mouse greater than the maximum wave A (84.51) and a minimum at 80.93 January 3 that has generated a clear bullish engulfing pattern in the vicinity of 78.6% of tracing of wave A. Now this game is new bullish wave (C, but we later cataloged as a wave 3 if the slope exceeds certain technical levels) which has a theoretical target of 85.10 (C = 100%) - 85.86 (38.2% of the tracing 95-80.22 descent. We believe, also in light of the conditions of oversold oscillators, not unlikely a climb up to 87.70, where C level would be equal to 1.618 times A, where the bear market party would be retraced from 95 to 50% and where transits now the down trend line over the medium term.
Related Articles:
Earn Money with Forex in less than 5 minutes a day
English-Italian, with a simple online translator, and subscribe to FREE Forex Signals 
I have already set long for the operation next week ... according to my analyzes doverebe down to minus 80 pips until Tuesday.