Technical Analysis: USD/JPY

The pair is trading by 77.00. The nearest resistance is still eyed by the...

The pair is trading by 77.00. The nearest resistance is still eyed by the 50-Day SMA at 77.35. A clear break and consolidation above this level would extend gains towards the 200-Day SMA by 78.40. Otherwise we could see a new drop towards the 76.50 support, with a break below to confirm declines ahead of the 75.50 low.

Edward Smith, technical analyst of company Admiral Markets.

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