Technical analysis USD/JPY 8 February 2013

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Resistance on the first turn of the target range of 94.00/95.00 did not allow the price to rise higher. The couple began lowering and now is testing the level of 92.20/30. The indicator changes testimony in favor of the “bearish” the continuation and this increases the risk of falling prices to the levels of 91.50/00, called earlier, as the likely support for the corridor which will form the expected correction. If SS joins the testimony of colleagues, it will give the arguments to fear lower prices fall, possibly to 89.50/40. By the way, if the situation is considered from the point of Candlestick analysis, two Dodge at the top (on the daily time frame) indicate a strong signal of reversal. However, in the medium term, the priorities still remain on the side of growth.

USD/JPY - 08.02.13

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