Since there is no change in FED's policy, ie no review or postponing of the QE end date, in other word, FEd is keeping the tapering schedule, interest rate will not rise one to a sudden, at least not before 1Q15, we can expect 101.5 to remain an important support level and 103.5 an important resistance level. If FEd increase its interest rate, we may se a move above 103.5. If BoJ fulfill its 2% inflation target, we may see a move bellow 101.5. In the mean time, the channel is between 101.5 and 103.5 . you can see my studies 11 days ago. Nothing has changed.
