Technical analysis USD/JPY 11 January 2013


As anticipated in the previous comment, the growth has continued on this pair, and the price came close to the 89.40/50 level, which was mentioned as the next target. Having visited 89.30, trading rolled back down a bit and now it is at 88.90/80. Indicators remain the “bullish” attitude, which points to the continuing priorities for continuing growth. At the same time, there is strong resistance, at the previously stated the 89.40/50 level, which is expected to be a source of large-scale correction . However, this level is not likely to be the last peak of the observed growth in the medium term, this trend has good prospects to reach out to higher levels, such as 90.60/91.00, and further to 94.00/95.00.

JPY/USD - 11/01/13


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