fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: Technical Analysis for JPY  Mon Jan 27, 2014 11:30 am | |
|  Technical Analysis for JPY USDJPY bounces slightly with the start of the week, after the strong selloff that pushed price below the 50-days SMA and 102.85-102.90 support level. An upside pullback towards the broken support area is likely, however, we expect the bearish bias to resume this week, or at least to witness fluctuations in a sideways bias. The upside should be limited below 103.80, as a break above the latter may signal the resumption of the bullish trend. Support: 102.15, 101.85, 101.60, 101.15, 101.00 Resistance: 102.50, 102.70, 103.000, 103.55, 103.85 Recommendation Short below 102.95, targets at 102.50 and 101.60. Stop loss above 103.85 | |
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