Technical Analysis for JPY
We are worried that the pair failed to stable above 95.50 levels and above Linear Regression Indicators supported by negativity shown on RSI. Meanwhile, we cannot bet on a downside move while the pair is stable above 94.10 levels, whereas stability above this level might extend the effect of the ascending channel and positive signals shown on Stochastic. Therefore, we prefer to remain neutral in our report today.
The trading range for today is among key support at 93.80 and key resistance at 97.10.
The general trend over short term basis is to the upside targeting 100.00 as far as areas of 84.00 remain intact.
Support: 95.00, 94.85, 94.50, 94.25, 94.05
Resistance: 95.50, 95.75, 96.10, 96.70, 97.10
Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move