USD/JPY The pair moved to the upside yesterday, achieving a four-hour closing above 99.70 and 99.95 then moved back below these levels. By examining the graph, we notice that the pair has stabilized above Linear Regression Indicator 34 and 55, but on the other hand Stochastic is biased negatively. We prefer to remain neutral to see how the pair will react around the 99.95 and 99.70 levels. The trading range for today is among key support at 98.75 and key resistance at 100.70. The general trend over short term basis is to the downside as far as areas of 103.50 remain intact targeting 93.50.
Posted on: Tue, 16 Jul 2013 10:42:26 +0000
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