USD/JPY forecast for the week of July 7, 2014, Technical Analysis

USD/JPY forecast for the week of July 7, 2014, Technical Analysis

7 July 2014, 23:57
Patti
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The USD/JPY pair rose during the course of the week, showing that the support still holds at the bottom of this consolidation area. However, the market is still start between the 101 and the 103 levels, so it’s difficult to place any longer-term trades. On a break above the 103 level, at that point in time we think that the market could go to the 105 level. However, until that happens we don’t really see much in the way of it trade as the area below 101 looks so supportive.




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