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  4. Technical Analysis: USD/JPY 2012.03.14

Technical Analysis: USD/JPY 2012.03.14

March 14, 2012 10:51

  The pair continues the upside rally towards the 85.50 resistance. However, daily studies are overbought, suggesting that a bearish reversal could take place from current levels, with a break back below 82.00 to open a new downside extension towards the 80.00 support or lower ahead of the 78.00-78.60 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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