USD JPY continues to approach the resistance 15/05/2013

Economies.com
2013-05-15 05:31AM UTC

The pair approaches from the bullish channel’s resistance that is located now at 102.65, and we are waiting for more intraday rising to hit the mentioned level, reminding you that monitoring the price behavior when reaching this level is important, where a bearish bouncing will be possible from there due to the trading rules inside the price channels.

 

Stochastic supports the idea of the potential rebound, while breaching above 102.65 will lead to a sharp rise on the short and medium term basis.

 

Expected trading range for today is between 101.25 support and 103.00 resistance.

 

Expected trend for today: Bullish

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