Wednesday, May 1, 2013

USDJPY Price Action: Inside Pin Bar Price Action Setup. May 1, 2013

 At my last commentary of the yen, I pointed out that the pair had approached a key resistance. Price has so far, rotated past immediate support around 97.64, (which now acts as resistance) and could target even lower prices however, the pair is within key support zone and buyers could move in at these prices. The Inside Pin bar Price Action Setup is a further reason to anticipate bulls coming in to push prices higher but The previous support now turned resistance has got to be broken for a any reasonable bullishness on this pair.

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