USDJPY held on above 95.34/29 support as hoped. Below 95.71/64 today we look for a test of 95.34/29 & we could see a bounce from here again. However a break of 94.85 could keep the pressure on for 94.48/42 to offer a potential buying opportunity this week.If we can hold above 95.85 we could reach for 96.30. Above here there is a chance we can retest 96.55/71 highs. A push through 96.80 can then target 97.14 & although we are getting very overbought in the short term, 99.74/79 is not out of the question.
Long term levels96.55 Last Week’s High94.77 2013 High91.41 January High92.92 Last Week’s Low90.61 Monthly 23.2% Fibonacci89.77 55 Day Moving Average
The article was first published by DayTradeIdeas.com
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