Japanese Yen (JPY) Technical Major Currencies (2010-12-07)

By @ibtimes on

Morning Report

The pair continues crawling to the awaited retest level at 82.00, accompanied by stochastic entering oversold levels; therefore, maintaining our suggested expectations for yesterday intact. We expect a bullish intraday direction building a base on the mentioned level and heading towards its primary targets around 84.25. Note the importance of the daily closing remaining above 82.00 to insure achieving the suggested targets.

The trading range for today is among the key support at 81.05 and the key resistance at 84.25.

The short term trend is to the downside as far as 91.55 remains intact with targets at 77.70.

Previous Report

Weekly Report

Support82.0081.5081.0580.8080.40Resistance82.8083.3584.2585.0085.95RecommendationBased on the charts and explanations above our opinion is buying the pair around 82.00 targeting 84.25 and stop loss below 81.05, might be appropriate.

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