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Technical Analysis: USD/JPY
The pair managed to break back above the 82.50-82.70 support area, right where both the 50-Day SMA and the 100-Day SMA reside. However, additional gains could be capped by the 200-Day SMA at 83.30. Should the pair break and hold above the 200-Day SMA, the uptrend will likely continue ahead of the 85.50-86.00 resistance area. Breaking and consolidating below the 82.50-82.70 support area would extend declines towards the 80.00 level.
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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