TECHNICAL ANALYSIS BY NSFX 17.12.2013
This is the 4th consecutive negative trading day for the pair, statistically a rally to test the 2013 double top in area 103.7 might occur. If price should trade above this static resistance level then the pair could reach 107 first and then 110, a level traded in 2008. In case risk appetite should decrease the Japanese Yen can gain ground against the Greenback with first support at 102.5 and then 101.49. A retracement below 99 might accelerate the selling pressure.