Tuesday, March 29, 2011

USD/JPY 82.2601

The USD/JPY recently broke past resistance at 82.00, reaching a fresh 2-week maximum at 82.15 where it begins to stall at time of writing. The pair has been showing modestly bullish tendencies as of late, pulling back from lows seen around mid-March due to the catastrophe in Japan.

Stoyan Mihaylov of Deltastock reports: “The pair is in a downtrend from 94.96 high. Trading is situated below the 50- and 200-day SMA, currently projected at 82.25 and 83.95. Current bias is positive, but we favor an unsuccessful test of 82.00 resistance and a slide towards 80.50, en route to 79.61. Initial support on the downside remains 81.48.

source: fxstreet.com

13 comments:

  1. i know what all these words mean. on opposite day

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  2. wow never thought the USD/JPY will develop in this way. Always thought it will fall further

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  3. Thx for update, though I'm looking for GBP info. :)

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  4. Wow, that's really low for the Yen. Haven't seen it that low in a long time.

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  5. I'm conflicted on the Yen. I think people are in a panic about the earthquake and the reactor troubles causing a temporary decline in the Yen's value, but it'll recover.

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  6. Wow, it sure didn't take long for the Japanese yen to bounce back did it?

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  7. Good to know. Thanks for the info.

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  8. I really need to invest some money, this blog is really helping me decide where to go with it.

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  9. Do you think this is because of the recent tsunami and earthquake losses?

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