Bouncing off support | 17 December 2013

17 December 2013, USD/JPY

USD/JPY has bounced after reaching important support from the trend-line at 102.60. From this level it has started to resume its dominant up-trend. It will probably go higher, eventually, reaching the 104.15 resistance level. A move above 103.20 would help provide bullish confirmation. However, a break below the 102.65 lows would change the outlook to more bearish, and lead to a possible move down to a target at 101.45.

Bouncing off support

Mark Satcher
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus