Japanese Yen (JPY) Technical Major Currencies (2011-02-01)

By @ibtimes on

Morning Report

The pair currently began its awaited process of breaching pivotal support 81.85, which thereby makes us hold onto our suggested bearish intraday expectations, due to the trading below the bearish trend's resistance level appearing in our weekly report along with stability below the MA 50. The awaited targets start around 80.35, while stabilizing below 82.60 is vital to maintain chances of a bearish direction continuing.

The trading range for today is among the key support at 80.35 and the key resistance at 82.60.

The short term trend is to the downside as far as 89.35 remains intact with targets at 77.70.

Previous Report

Weekly Report

Support81.0580.8080.3579.6079.20Resistance81.8582.3582.6083.2083.70RecommendationBased on the charts and explanations above our opinion is selling the pair around 81.85 targeting 80.35 and stop loss above 82.60, might be appropriate.

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