Technical Analysis: USD/JPY 2012.03.09

March 09, 2012 09:02

The pair continues the uptrend, aiming for testing the 82.00 level, with a clear break above to open the door for an upside rally towards the 85.50 resistance. The nearest support is still eyed by 80.00. Breaking below this level would extend declines towards the 77.80-78.20 support area, right where the 50-Day SMA, the 100-Day SMA and the 200-Day SMA reside.

Edward Smith, technical analyst of company Admiral Markets.

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