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USD/JPY: Current outlook

 
The pair almost reached the 95.80-96.50 support area, right where the 50-Day SMA resides. Breaking below this area would extend declines towards the 92.50-93.30 support area, right where the 100-Day SMA resides, or the 90.00 level. Meanwhile, should the pair hold above the 95.80-96.50 support area, we would see a new surge towards the strong 100.00 resistance. A break and consolidation above this level would expose the next long-term upside target by the 110.00 resistance.
 
 

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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