Technical Analysis: USD/JPY 2012.04.12

April 12, 2012 11:53

The pair is consolidating by the 50-Day SMA at 80.80. A daily close below this level would extend declines towards the 100-Day SMA by 79.15 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.

Admirals An all-in-one solution for spending, investing, and managing your money

More than a broker, Admirals is a financial hub, offering a wide range of financial products and services. We make it possible to approach personal finance through an all-in-one solution for investing, spending, and managing money.