USD JPY achieves another positive condition 19/12/2012

The pair managed to surpass 84.15- 84.20, with achieving daily close exactly at the last level, this is adding more confirmation for the continuation of the bullish trend on the intraday and short term basis, where the way seems open towards the upcoming target at 85.25

Note that the current bullish wave remains within a bullish correction for the decline from 95.00 to reach 75.55, therefore breaching above 85.25 will open the way towards the next correctional level at 87.55, while breaking below 82.90 will push the price to test levels around 80.10 and attempts to turn back again to the main bearish trend.

Expected trading range for today is between: 83.45 support and 85.50 resistance.

Expected trend for today: Bullish