Technical Analysis: USD/JPY 2012.05.02
May 02, 2012 11:27
The pair found some support by the 100-Day SMA at 79.60 and surged back above 80.00. Now we look for a further rebound towards the 50-Day SMA by 81.70, with a break and consolidation above to confirm the uptrend towards the 84.00 level or higher ahead of the 85.50 resistance. Meanwhile, breaking below the 100-Day SMA would extend declines towards 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.