by Thu, 12 May 2011 01:57:00 +0200
Forex: USD/JPY - corrective spell around 81.00
FXstreet.com (Barcelona) - Limited below 81.40 yet holding above 81.00, pair early bullish momentum succumbed to risk and despite indicators remain below their midlines, are turning back south. Current price: 81.02.
From a technical perspective: "4 hours chart shows the pair above 20 SMA, gaining bullish slope, yet price not following. Only above 81.40 recent weekly high, pair could attempt further gains yet more likely the downside will become exposed once below 80.80 support" commented Valeria Bednarik, Chief Analyst at FXstreet.com.
Support levels: 80.80 80.45 80.10, Resistance levels: 81.10 81.50 81.90
| Technical Analysis (2011-05-11 23:30 GMT) | |
|---|---|
USD/JPY 80.97/81.01 - O: 80.455 H: 80.62 L: 80.445 C: 80.575 | |
| Trend | R3: 81.3723 |
 | R2: 81.1699 |
| R1: 80.9675 | |
| S1: 80.5030 | |
| S2: 80.7052 | |
| S3: 80.9075 | |
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