Technical analysis USD/JPY 28 January 2013

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The  price haven’t overcome the 90.60/80 resistance range. Short punctures this barrier, which reached the level of 91.00, in the end, resulted in rolling back down, and now the pair is trading at 90.60/50. This situation may signal the next stop of growth and the beginning of the correction. At the same time, the mood indicators, preserving evidence of growth, tells us of a possible one more thrust upwards, after which the next correction will begin. Consolidation of trading below the 90.30/20 support will signal the beginning of the consolidation period, which probably will be in the range of 90.80 – 89.50. Lower price drop prompts will prompt of  correctional corridors expanding to 88.20/00. Continued growth will meet the same resistance at 92.20/70.

JPY/USD - 28.01.13

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