Technical Analysis: USD/JPY 2012.03.20

March 20, 2012 10:27

The pair managed to hold above 83.00, so we could see a bullish resumption towards the 85.50 resistance. Meanwhile, a break and consolidation back below 83.00 would open a new downside extension towards the 80.00 support or lower ahead of the 50-Day SMA by 79.10, the 100-Day SMA by 78.35 and the 200-Day SMA by 78.10.

Edward Smith, technical analyst of company Admiral Markets.

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