USDJPY Daily Outlook for 13th December 2013 (Friday)
Daily Chart
At the time of posting, the U/J has reached new highs for the month and reached the yearly high as well, Any clear break of that high will bring out 105 handle.
- Bearish butterfly is possible up until the 105.5-106 handle
Hourly Chart
At the time of posting, U/J is trying to break yearly highs. As i don't like to trade break outs, we are going to observe and let the dust settle and then trade accordingly. My Bias is to break the yearly highs and on towards the 105-106.
- Currently extremely overbought on all indicators
Outlook Trade opportunity
My comments from yesterday analysis was we are still in a bull run as we have not performed lower lows , For those who went long from my recommendation should have been quite profitable
For today No trade - Let the dust settle while we
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