USD JPY builds new support base 07/01/2013

The pair was able to settle above 87.50 followed by daily close above 88.00, which solidifies the expectations to continue with the uptrend on the intraday basis, while we still waiting a visit to 90.00-90.50 levels.

Stochastic negativity might cause some sideways’ fluctuations before resuming the uptrend which remains valid unless 87.50 was broken.

Expected trading range for today is between: 87.50 support and 89.20 resistance.

Expected trend for today: Bullish