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.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
