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  4. Technical Analysis: USD/JPY 2012.04.11

Technical Analysis: USD/JPY 2012.04.11

April 11, 2012 11:49

  The pair reached the 50-Day SMA by 80.80. A daily close below this level would extend declines towards the 100-Day SMA by 79.10 or the 200-Day SMA by 78.20. However, should the pair hold above the 50-Day SMA, we could see a bullish resumption towards 84.00, with a break and consolidation above to allow testing 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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