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13.04.2011 11:29 AM
USD/JPY Daily Forecast For April 13 / 2011

 

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DAILY  FORECAST :

Today the USD/JPY has been trading between the 5 periode Moving Avarage and the 20 periode Moving Avarage and in the range between 83.59 and the 84.21 levels. These two levels have a potential to be tested by this pair today, but if we look at the daily charts, the Stochastic studies is still in a Bearish Mode; so we predict that today the pair will test the support at 83.59 and the 3 days low at the 83.48 level. On the other hand, if the Resistance 84.21 can be broken by this pair today, the USD/JPY will test the 84.50 as the first target and the 84.71 as the second target.

Arief Makmur,
Analytical expert of InstaForex
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