FXstreet.com (Barcelona) - The USD/JPY remains biased to the upside after having eroded the cloud resistance for the first time in six months and having completed a bullish falling wedge pattern longer term. “Ideally we would like to see a close above the 200 day ma at 79.42 as added confirmation, but for now favor gains to 79.66, the August high and then 80.63, the June high”, wrote analyst Karen Jones, targeting 84.19 (2012 high) for the (slight) longer term, provided that support at 76.03 is not breached. “We would expect prices to remain underpinned by 78.28, the short term support line”, added the Commerzbank analyst.
Forex Flash: USD/JPY should close above the 200-day MA, 79.42 - Commerzbank
Fri, Oct 19 2012, 06:38 GMT | FXstreet.com
USD/JPY May 22 at 09:14 GMT
102.87/91 (0.41%)
H103.03 L 102.34
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Any opinions, news, research, analyses, prices or other information contained on this story, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
