USDJPY – Weekly Forecast 11-15 Nov 2013

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Recommendations: LONG positions above 96.56 with 100.86 & 101.52  as next target.
Alternative scenario:The downside breakout of 96.56 will call for a slide towards 93.78 .
Description:The clear break above 99.27  last June confirmed support at the 93.78 levels, so as long as 93.78 holds , the pair targets 103.73 levels, sustained trading above 99.27 will build pressure on the 101.52/103.73 levels , break of 103.73 would open 105.72 ahead of 108.21 levels .On the downside,losing 96.56 would only delay the bullish move for retesting 93.78 levels before the next rise, but  losing the 93.78 levels would invalid the bullish view and reverse risks to the downside towards  92.56/89.15 levels ahead of 84.17 levels.

Support and resistance : 84.17 , 89.15 , 92.56 , 93.78 (main) , 96.56 , 99.27 (pivot) , 100.86 , 101.52 , 103.73

 

MARKET DATA

UPCOMING ECONOMIC EVENTS

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