Technical Analysis: USD/JPY 2012.04.16

April 16, 2012 11:37

  The pair is trading below the 50-Day SMA, so we look for further declines towards the 100-Day SMA by 79.20 or the 200-Day SMA by 78.20. Only a break and consolidation back above the 50-Day SMA could trigger a bullish resumption towards 84.00, with a break above to allow testing the 85.50 resistance.    

Edward Smith, technical analyst of company Admiral Markets.

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