USD JPY visits the critical resistance 18/01/2013

Economies.com
2013-01-18 05:21AM UTC

The pair continued to rally positively trading now above the psychological level 90.00, while stopping now near the most sensitive resistance level to the short term and medium term trend at 90.40, this level represents 76.4% Fibonacci for the bearish wave from 94.97 to 75.55, thus, breaching above this level will provide the key for more incline which targets 95.00 levels.

 

Now, we need to continue with the neutral position to monitor the strength of the mentioned level against the breaching attempts

 

Expected trading range for today is between: 88.80 support and 91.00 resistance.

 

Expected trend for today: Neutral

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