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USDJPY: Maintains Short Term Uptrend.

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Old 20-11-2013, 10:46
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Default USDJPY: Maintains Short Term Uptrend.

USDJPY: We continue to hold our upside bias on USDJPY despite its price hesitation risk. On ending its present pullback, it should retake the 100.60 level. A violation of here will aim at the 101.52 level. Further out, resistance resides at the 102.00 level. Conversely, support lies at the 98.00 level where a break will aim at the 97.00 level. Further down, support comes in at the 96.56/18 levels. Below here if seen will aim at the 95.00 level where a violation will aim at the 94.50 level. On the whole, USDJPY remains exposed to further upside.
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