USD JPY prints second top 04/12/2012
Economies.com
2012-12-04 05:46AM UTC
The pair is trading negatively after founding a solid resistance near 82.80, where the signs of forming a potential double top pattern on the daily time frame are shown, the neckline for this pattern is located at 81.70, and breaking below it will push the price to retest the major level for the short term trend at 80.60.
Therefore, we prefer staying aside now in order to monitor the price behavior according to the critical levels between 81.70 support and 82.80 resistance
Expected trading range for today is between: 81.00 support and 83.50 resistance.
Expected trend for today: Neutral
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