USDJPY Dollar/Yen Daily Chart Positive Divergence

With all the other drama occurring, dollar/yen has not received much attention.  Our Japanese friends continue to deal with the bad fallout, literally, from the earthquake, tsunami and nuclear disasters. Everyone is hoping for the best for Japan.  The interruptions to the tech and auto supply markets are subsiding now.

The white squares show previous intervention, the last move in May was a coordinated intervention that took price over 82, but after that, the dollar/yen has drifted lower. Price is now lower than the March low, also lower than the low a couple weeks ago, but the indicators are agreeable to a positive divergence pop.  Regardless of whether or not intervention occurs, price should move back up from here.  The downward channel in place is a likely target area, price recovering back up into the 78.5-80.0 area.  This information is for educational and entertainment purposes only.  Do not invest based on anything you read or view here or any links connected to this information.  Consult your financial advisor before making any investment decision.