Technical Analysis: USD/JPY 2012.03.12

March 12, 2012 10:48

The pair broke above the 82.00 level, thus confirming the upside rally towards the 85.50 resistance. However, a break back below 82.00 could trigger a setback towards the 80.00 support, with a break below to extend declines ahead of the 78.00-78.35 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.

At any use of the analytical material taken from a site of company Admiral Markets, and the secondary publication on any other resources, the rights to intellectual property for a dealing centre «Admiral Markets», the reference to a company site is obligatory.

Admirals An all-in-one solution for spending, investing, and managing your money

More than a broker, Admirals is a financial hub, offering a wide range of financial products and services. We make it possible to approach personal finance through an all-in-one solution for investing, spending, and managing money.