Technical Analysis: USD/JPY

The pair is still trying to break and hold above the 84.00 level...

The pair is still trying to break and hold above the 84.00 level, where the 100-Day SMA resides. Should the pair succeed, the upside trend will likely continue ahead of the 86.00 resistance. Otherwise, we expect to see a setback to the 82.75 support, with a break below to confirm additional declines towards the 81.60 support.

Edward Smith, technical analyst of company Admiral Markets.

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