Technical Analysis: USD/JPY 2012.03.23

March 23, 2012 11:15

The pair dropped below the 83.00 support, thus increasing risks of additional declines towards the 80.00 support or lower ahead of the 50-Day SMA by 79.50, the 100-Day SMA by 78.50 and the 200-Day SMA by 78.10. Any recovery is expected to be capped ahead of 84.00. However, a break and consolidation above 84.00 would allow reaching the 85.50 resistance. 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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