Today, binary traders are seeing some minor drops in the pair, but still USD/JPY is into an increasing edge. The Intraday bias remains neutral for some consolidations below 98.52 the daily top. An upward corrective move is also a likely scenario but a further rise remains somewhat mildly in favor as long as 97.80 support holds. Above 99.30 will target 99.98 first and a possible break will confirm completion of the pull back from 101.55 at 95.85 and should send the pair through 101.50 resistance. In fact, values of over the price of 103.70 are viewed as a consolidation pattern and a rebound from 93.80 is treated as the second leg. In the bigger picture, USD/JPY made a top at 103.70 and turned into consolidations. Some more sideway trading is very likely to be present. In case of a further fall, the downside will likely be contained by 92.50 support and bring rebound.
 


Comments




Leave a Reply

    Archives

    August 2013
    July 2013

    Categories

    All