FXstreet.com (Buenos Aires) – USD/JPY Current Price: 81.40. Pair broke above a short term descendant trend line coming from 85.38, September 24th intraday high, although rally was capped by 81.65 strong static resistance zone.
Losing some momentum both in 1 and 4 hours charts, pair needs to overcome the mentioned 81.65 area to confirm a bullish continuation towards 81.90 and 82.20/30 price zone; only above this last, the bullish short term rally could turn into a stronger corrective upward movement. “Lose of 81.10 support however, will deny the bias, and put the cross back into bearish pressure,” said Valeria Bednarik, collaborator at FXstreet.com.
Support levels: 81.10 80.85 80.40. Resistance levels: 81.65 81.90 82.25.
Losing some momentum both in 1 and 4 hours charts, pair needs to overcome the mentioned 81.65 area to confirm a bullish continuation towards 81.90 and 82.20/30 price zone; only above this last, the bullish short term rally could turn into a stronger corrective upward movement. “Lose of 81.10 support however, will deny the bias, and put the cross back into bearish pressure,” said Valeria Bednarik, collaborator at FXstreet.com.
Support levels: 81.10 80.85 80.40. Resistance levels: 81.65 81.90 82.25.
