by Fri, 08 Oct 2010 01:54:00 +0200
Forex: USD/JPY consolidating at lows
FXstreet.com (Buenos Aires) – USD/JPY Current Price: 82.38. Pair extend slide yet again, reaching this Thursday 82.11 price zone, and barely reacting to dollar recovery across the board. Hourly chart shows indicators exhausted to the downside yet far from bearish with price under a strongly bearish 20 SMA, while 4 hours ones show the same situation; pair rebounds had been quite shallow as Wall Street slump today and finally closed with small loses.
“As per bigger time frames, bearish trend remains intact; only a strong recovery at least above 83.10 could revert the pair tone ahead of G7 meeting this weekend,” said Valeria Bednarik, collaborator at FXstreet.com.
Support levels: 82.11 81.70 81.30. Resistance levels: 82.50 82.80 83.10.
| Technical Analysis (2010-10-07 23:45 GMT) | |
|---|---|
USD/JPY 82.37/82.38 - O: 83.26 H: 83.335 L: 83.25 C: 83.325 | |
| Trend | R3: 82.8120 |
 | R2: 82.6060 |
| R1: 82.4000 | |
| S1: 81.9631 | |
| S2: 82.1691 | |
| S3: 82.3750 | |
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