Technical review of the USD/JPY 10.12.13

After a fairlyslow session in the United States where Fed’s representatives Bullard, Lacker and Fisher have expressed a tendency to begin stimulus reduction earlier, it was a bit surprising to see the weakening of the U.S. dollar during the Asian session on Tuesday. USD / JPY was under slight pressure after the fall of the index Nikkei, which closed the session lower by 0.3%.
 

Trading recommendation: buy a currency pair after it breaks through and  firmly establishes higher than a strong intermediate resistance level of 103.45 with small lots. Add positions in case of strengthening of the pair higher than a103.75 mark with a first aim of 104.00 and further aim of 105.00.

Analyst Andrew Batenski