Friday, November 29, 2013

USD/JPY Weekly Outlook

USD/JPY's rally extended last week and reached as high as 102.60. But it's staying to lose momentum after breaking 101.53 resistance, as seen in mild bearish divergence condition in 4 hours MACD. While further rally cannot be ruled out initially this week, we'd stay cautious on reversal inside 101.53/103.73 resistance



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