Technical analysis of USD/JPY for December 30, 2013
December 30, 2013 3:15 pm
Trading recommendations:
The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As far as the price is above its pivot point, a long position is recommended with the first target at 105.45 and the second target at 105.85 in mind. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 104.45, the breach of this target will move the pair further downwards and one may expect the second target at 104.1. The pivot point stands at 104.8.
Resistance levels:
105.45
105.85
106.25
Support levels:
104.45
104.1
103.65
The material has been provided by InstaForex Company – www.instaforex.com
Trading recommendations:
The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As far as the price is above its pivot point, a long position is recommended with the first target at 105.45 and the second target at 105.85 in mind. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 104.45, the breach of this target will move the pair further downwards and one may expect the second target at 104.1. The pivot point stands at 104.8.
Resistance levels:
105.45
105.85
106.25
Support levels:
104.45
104.1
103.65
The material has been provided by InstaForex Company – www.instaforex.com
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