Daily Forecast - 14 April 2014
USDJPY
USDJPY testing the lower channel support at 101.50 & holding above March lows at 101.20. We look like we are base building & should now start to recover & target 101.95/102. We should struggle here & a high for the day is likely but above 102.15 is more positive & targets 102.35/40.
101.40/30 could hold the downside again today but below here we have lots more support with March lows at 101.25/20 & 10 month trend line support at 101.10. We do expect this 101.30/10 area to offer an excellent buying opportunity but an unexpected break lower targets the 200 day moving average & February lows at 100.80/75.
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