USD/JPY: Pair Maintains A Positive Tone
FinFX | Dec 03, 2013 04:09AM ET
USD/JPY
The pair maintains positive tone, as fresh extension of the upleg from 101.13 cracked psychological 103.00 barrier and posted new high at 103.36, en-route towards key resistance and short-term target at 103.72, 103.72, 22/05 yearly high. Near-term studies are bullish, but overbought conditions suggest possible hesitation on approach to 103.72. Initial supports lay at 102.61, previous high and 102.00, former consolidation floor, below which bulls may be put on hold for deeper corrective pullback towards 101 zone.
Resistance: 103.36; 103.50; 103.72; 104.00
Support: 102.82; 102.61; 102.21; 102.10
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