Technical Analysis – USDJPY range-bound
Posted on November 7, 2013 at 9:07 am GMTUSDJPY has been confined within a triangle pattern since May and is nearing the apex. Hence, a break-out is expected in the near term. When this happens it is more likely to the upside, with a break of the key psychological level of 99.00. On an intra-day basis, the pair remains supported at 98.55, after trading in a tight range overnight. Resistance at 98.72 has been tested several times and is proving to be a key level which is capping [..]