by Fri, 12 Nov 2010 22:22:00 +0100
Forex: USD/JPY posts second weekly gain in a row
FXstreet.com (Córdoba) – USD/JPY finished on Friday above 82.20 and posted a weekly gain of more than a hundred pips. On Wednesday the pair reached 1-month highs at 82.80 and during Friday’s session managed to recovered after falling to 81.60 during Asian hours.
“The 82.85/83.00 level is an important pivot providing resistance. A break above that suggests further correction towards 38.2% retracement or the 86.00 area”, said Fan Yang, Chief Technical Strategist at FXTimes.
Greenback extended its recovery from 15-year lows and since the beginning of November has risen more than 200 pips.
The Dollar was among the best performs during the week and rose across the board. The Yen ended the week with mix results.
| Technical Analysis (2010-11-12 18:45 GMT) | |
|---|---|
USD/JPY 82.49/82.5 - O: 81.155 H: 81.2 L: 81.15 C: 81.165 | |
| Trend | R3: 82.8447 |
 | R2: 82.6386 |
| R1: 82.4325 | |
| S1: 81.9656 | |
| S2: 82.1716 | |
| S3: 82.3775 | |
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