13.04.201111:29 Forex Analysis & Reviews: USD/JPY Daily Forecast For April 13 / 2011

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

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.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.