USDJPY – Weekly Technical Analysis – 24 Jun 2013

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The USDJPY corrected higher a little bit last week topped at 98.25, now the pressure will be on the key resistance 100.66, a break above 100.66, would open the way towards 103.73 levels, break of 103.73 will pave the way towards 105.70 ahead of 109.

On the downside support is at 93.78, a break would test the main support 92.55, below 92.55 will bring a free fall towards 84.00 levels.

In all as long as 103.73/100.66 holds, the pair is likely to return to its downside bias with risk towards 92.55 levels…

Recommendations: Sell after rejection on daily from 100.66 levels with a target towards 93.78 and 92.55 as a second target.

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