7 Apr 2014
USD/JPY holds above 103.20
FXStreet (Córdoba) - The USD/JPY opened the week trading steady around 103.30, above Friday’s lows that lie at 103.18. As most crosses of the FX market, price action remains around last American session ranges.
Outlook for the USD/JPY
After the pullback of last Friday, the outlook is now neutral according to Alexander Nikolov from Trend Recognition. “As result, the outlook is now more neutral than anything. As I see it, a flag pattern has developed from the early Feb low. If this pattern is indeed a flat, we will soon see a break below 101.20 and the outlook will become bearish”.
To the upside, Nikolov points out that a move above 104.65 will confirm a bullish outlook.
Outlook for the USD/JPY
After the pullback of last Friday, the outlook is now neutral according to Alexander Nikolov from Trend Recognition. “As result, the outlook is now more neutral than anything. As I see it, a flag pattern has developed from the early Feb low. If this pattern is indeed a flat, we will soon see a break below 101.20 and the outlook will become bearish”.
To the upside, Nikolov points out that a move above 104.65 will confirm a bullish outlook.