FXstreet.com (Barcelona) - The USD/JPY has careened off the proverbial cliff, losing over 20 pips during American trading Tuesday. Having peaked at an intraday maximum of 79.54, proponents of the Japanese yen seemed to be having their way against the greenback as the pair has settled presently at 79.34, constituting a fall of -0.09% since its initial levels.
According to the technical analysts at ICN.com, “Despite the recent decline, a daily closing above its SMA 100 will confirm the bullishness suggested this morning mainly targeting 81.05 zones. Our bullish anticipations are reinforced by the positivity appearing on technical indicators. On the downside, areas of 78.20 should protect bulls.”
Briefing the technicals, the ICN.com team calculates the supportive measures at 79.25, 79.00, and finally 78.80. Conversely, on its ascending path, the pair will encounter means of resistance at 79.80, then 80.10, and 80.30.
According to the technical analysts at ICN.com, “Despite the recent decline, a daily closing above its SMA 100 will confirm the bullishness suggested this morning mainly targeting 81.05 zones. Our bullish anticipations are reinforced by the positivity appearing on technical indicators. On the downside, areas of 78.20 should protect bulls.”
Briefing the technicals, the ICN.com team calculates the supportive measures at 79.25, 79.00, and finally 78.80. Conversely, on its ascending path, the pair will encounter means of resistance at 79.80, then 80.10, and 80.30.
