Technical Analysis: USD/JPY 2012.03.13

March 13, 2012 10:43

The pair is consolidating above the 82.00 level, and in a short-term could continue 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 78.00-78.50 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.

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