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USD/JPY Daily Forecast - 13 September 2013USDJPY broke 99.45/35 to test the 100 day moving average at 99.15/05. A low for the day was predicted & longs were held as we bounced above 98.95. We saw a good recovery to our first target of 99.70/80 for profit taking & topped exactly here. Watch the 99.00/95 & 99.80/85 levels again today. The outlook is more neutral so trade this range but be ready for a break higher to target 100.10/15. If we continue higher look for 100.35 before yesterday’s high at 100.60. Immediate support is 99.45 but below here risks a retest of the 100 day moving average at 99.05/00. A low for the day is likely here but longs need stops below 98.90 for a test of the next support at 98.75/70 & a good buying opportunity.+
Written by: http://www.daytradeideas.com/
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