Japanese Yen (JPY) Technical Major Currencies (2011-03-31)

By @ibtimes on

Morning Report

The pair stabilized above the resistance that has currently turned into support around 82.40, which could be a vital factor for a bullish intraday move; however, the negativity on Stochastic could pressure the pair to return to the downside. We remain neutral today and observe the pair closely awaiting confirmations for the coming direction.

The trading range for today is among the key support at 81.15 and the key resistance at 84.25.

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

Previous Report

Weekly Report

Support82.4081.8081.1580.6080.00Resistance83.2583.7584.2585.0085.95RecommendationBased on the charts and explanation above our opinion is remaining neutral until signs appear that insure its upcoming direction.

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