Forex Technical Analysis USD/JPY 2013-09-04
Upside momentum was contained by resistance at 99.77 slightly below the key cap at 100. We consider the psychotically important area around 100 a major resistance that would limit the bullish bias of the currency pair for the following sessions.
Moreover, the Williams’ percent range is in the overbought zone weakening bullish attitude of investors but the Average Directional Index confirms strong uptrend. We are concerned about fundamental events of the week as well as risk of a Syria war could increase selling pressure on the pair.
See more: http://www.ifcmarkets.com/en/technical- ... 2013-09-04