fxpulsation
Posts : 8759
Join date : 2012-01-25
 |  Subject: Technical Analysis for JPY  Mon Dec 09, 2013 8:47 am | |
|  Technical Analysis for JPY The pair moved to the upside approaching levels around 161.8% correction represented in 103.10 again. Breaching the referred to level and stabilizing above it might extend the upside move this week, as the pair might attempt to test 200% correction and perhaps 224% at 104.65 and 105.60 showing on graph. Breaking 101.70 could fail the suggested positivity, but we prefer to stabilize above 102.50 to strengthen the bullish possibility. Support: 102.70, 102.50, 102.10, 101.70, 101.10 Resistance: 103.10, 103.75, 104.10, 104.65, 105.05 Recommendation Based on the above, buy the pair above 102.70 targeting 103.75, 104.65 then 105.60 and stop-loss below 101.60 | |
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