USD/JPY - Gonna break 120?

It went above 120 nearly a month ago and seems to be turning south for a little bit. Anyone think it has the strength to break it down or is it just going to bounce again? Strong support from back in March. Worth shorting?


http://img65.imageshack.us/img65/9436/usdjpyrh5.th.jpg

Yes, I think we will see it go below 120. G7 speculation combined with a well bid eur/usd might take it lower. I see good support in 119.50/60 area. You could see a 119.95 break in case you are afraid of a bounce. I am short from 34 so have more room to give from. Good luck.

Anyone have a support line at 119.82ish?
Looking for collaboration to tell me I'm wrong. Probably not a strong line anyway with this trend.

I have a support line at 119.86(+/-2 PIPS). So we are both close.

Anybody know what website posts the meeting minutes of the G7?
Much appreciated.

Yea from October? Seems like a legitimate support area.

That's why I'm wondering if its worth shorting. There is that support in October and pretty much the same area from Feb - March of 06. I don't know. Maybe worth a couple pips, but I wouldn't shoot for 200 just yet.

It might need a big push from G7 to break down 120. Daily chart RSI stalled right before crossing 50 from above. Looks like I need to educate myself on G7.