Technical Analysis: USD/JPY 2012.04.25

April 25, 2012 10:30

The pair managed to hold above 81.00, but is still trading below the 50-Day SMA by 81.60. Should the pair break and hold above the 50-Day SMA, it will confirm the uptrend towards the 84.00 level or higher ahead of the 85.50 resistance. Otherwise, we could see a new drop below 81.00 towards the 100-Day SMA by 79.45 or the 200-Day SMA by 78.30. 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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