Japanese Yen (JPY) Technical Major Currencies (2010-12-09)

By @ibtimes on

Morning Report

The pair touched the pivotal resistance at 84.25 and is finding a hard time surpassing it in the first attempt. The bullish technical pattern is now complete and requires a clear breach and stability above 84.25 to confirmthe expected bullish intraday move, supported by the upside trend on Stochastic. Our expectations require steady daily closing above 83.10.

The trading range for today is among the key support at 82.80 and the key resistance at 85.95.

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

Previous Report

Weekly Report

Support83.1082.5581.9081.5081.05Resistance84.2585.0085.9586.2586.90RecommendationBased on the charts and explanations above our opinion is buying the pair with the breach of 84.25 targeting 85.95 and stop loss below 83.05, might be appropriate

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