USD JPY approaches the support 01/05/2013
Economies.com
2013-05-01 05:25AM UTC
The pair is heading gradually to the downside, approaching from the bullish channel’s support at 96.60, therefore, we are waiting now for more intraday decline, but we should monitor the price behavior cautiously when reaching the mentioned level, where its steadiness will turn the price back to visit the psychological barrier 100.00 again, while breaking it to the downside and followed by break below 95.80 will push the price towards more downside track on the short term basis.
Expected trading range for today is between 96.00 support and 98.25 resistance.
Expected trend for today: Bearish, towards the mentioned target
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