Thursday, January 30, 2014

UsdJpy bearish outlook

On 24th of this month, price broke 102.95 support which was formed by the engulfing bars 13th and 14th

Price retraced to this level (now a resistance) 

Yesterday's bearish candle forming a good bearish candles set up is a strong indication that the afformentioned level has been broken successfully

I expect price to move to 100.80-100.50 in the coming days, though it might retrace to 102.40 to 102.60 before the movement

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