Technical Analysis: USD/JPY 2012.03.22
March 22, 2012 10:24
The pair is trading above the 83.00 support, so we still see the possibility of reaching the 85.50 resistance. However, breaking below 83.00 would open a new downside extension towards the 80.00 support or lower ahead of the 50-Day SMA by 79.40, the 100-Day SMA by 78.45 and the 200-Day SMA by 78.10.
Edward Smith, technical analyst of company Admiral Markets.
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