/ 

Nov 08

TECHNICAL ANALYSIS BY NSFX 08.11.2013

By:

High:  Low: 

Yesterday was a volatile day for the UsdJpy as well. The pair went above the supply line  and during its downside move retraced on the 200SMA. Now is trading on the middle between the demand and the supply line and only daytrading decisions would be taken inside this range.  A breakout above 98.27 could lift the pair to test 98.85 and above it 99.59. An intermediate target price in case of bullish environment would be at 101.51.  If  the cross rate should retrace the first support would be at the 200SMA in area 97.73. Below it 96.56 and the target price in case of  a bearish scenario would be at 95.82, the 8th August low.

R3
R2
R1
S1
S2
S3