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  4. Technical Analysis: USD/JPY 2012.04.24

Technical Analysis: USD/JPY 2012.04.24

April 24, 2012 11:54

  The pair continues declines, trading below the 50-Day SMA. Breaking below the 80.00 level would accelerate the downtrend towards the 100-Day SMA by 79.40 or the 200-Day SMA by 78.30. The nearest resistance is eyed by the 50-Day SMA at 81.60. Only a break and consolidation back above this level would negate our outlook and confirm the uptrend towards the 84.00 level or higher ahead of 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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