USDJPY Daily outlook for 5th December 2013

Daily Chart - Clear bearish candle breaking the steep trendline

• Clear bearish candle breaking the steep trendline
• Next target for short will be 38.2 retrace

Hourly Chart

• Made lower lows so previous support is now resistance, and also a daily pivot and 38.2% retrace.

Outlook Trade Opportunity

Will look for opportunity to short if market test the 102-101.90 confluence levels of Daily pivot, previous support now resistance , 38.2% retrace, trendline. with initial Target of yesterday's low