Despite the slight correction during Fridays trading session, we expect that the trend will remain positive towards the 19000 psychological level. The 18240 support is key for this scenario.
Key resistance level for the USD/JPY remains 102.70. We expect that the currency pair will continue trading between the 100.00 - 102.70 trading range. A successful break through 99.60 will send the pair into negative territory.
Key level for the German benchmark during today's trading session will be 10400. A break through this level will determine the trend as negative and a test of the 10270 support will be expected.
Successful breach above 103.50. The pair currently trades in the the 103.80 - 104.15 range. We expect furher rise, important resistance mark being 106.70.
The unsuccessful test of the 104.00 resistance lead to a sell-off in USD/JPY. The pair is set to continue drifting lower targeting the psychological 100.00 level.
Friday's break through 1.1200 support led to a new low at 1.1147 and the outlook remains bearish, for a slide through 1.1120, towards 1.1050 area. Key resistance lies at 1.1200.
Yesterday's short-lived peak at 1.1212 has started a new wave downwards, for a break through 1.1120 support, en route to 1.1050 area. Minor intraday resistance lies at 1.1150, followed by the crucial high at 1.1212.
Yesterday's slide bottomed above 10245 support area and current outlook is already bullish, for a rebound towards 10570 resistance area. Initial intraday support lies at 10400.
