USD/JPY Weekly Technical Report 13-17/5/2013
ecPulse
2013-05-13 07:26AM UTC
The ascending channel organized the pair’s trading over medium and long terms as shown on graph; we also see the pair stable above 99.85 levels that might extend the bullish move this week. The pair might test around key resistance level of the ascending channel above 103.00, and trading above 100.35 supports extending the upside move.
The trading range for this week is among key support at 97.00 and key resistance at 103.90.
The general trend over short term basis is to the upside as far as areas of 97.00 remain intact targeting 105.60.
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