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Thursday, September 12, 2013

USD/JPY TECHNICAL ARTICLE ON SEPTEMBER 12,2013





The high volatility pair has begun its sell on yesterday and the flow will continue till it reaches a better support. The USD/JPY decline denoted the foreseeable gain to the JPY for the next two days. 

This should be given a lucrative to the long term traders. After the trend reversal, the trend has grabbed more than 120 pips till now and long moving average is assuming the trend to move further.  

Already, the pair has completed its bullish pattern once it has reached the resistance of 100.568. It was a clear resistance and the trend is progressing towards the support to compensate the past two weeks “long”. The trend reinforces with the strong indicator and it is highly possible to gain more than 100 pips.

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