Japanese Yen (JPY) Technical Major Currencies (2011-04-20)

By @ibtimes on

Morning Report

The pair continues to trade around the SMA 50 with the start of positive signs on Stochastic providing an upside bias that might negate the need to retest the resistance for the downside channel previously breached. We are at sensitive intraday levels represented with the 82.50 resistance and 82.70 support and accordingly we recommend observing trading around the mentioned levels for more confirmations.

The trading range for today is among the major support at 81.40 and the major resistance at 85.65.

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

Previous Report

Weekly ReportSupport82.7082.1581.4080.7580.00Resistance83.5083.9084.5085.0085.65RecommendationBased on the charts and explanations above we recommend observing the pair for more confirmations

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