USD/JPYs recovered extended to 103.44 but faced some resistance below 4 hours 55 EMA and weakens today. Intraday bias stays neutral first. Note again that near term outlook stays bearish as long as 104.91 resistance holds. And, the whole decline from 105.41 is expected to resume sooner or later. Below 102.51 minor support will turn bias to the downside for 101.76. Break will target 100.61 key support next. Break there will have larger bearish implications and confirm medium term topping at 105.41.
Posted on: Thu, 30 Jan 2014 01:59:45 +0000
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