USD/JPY Classical 03.26
USD/JPY: Has been very well supported on dips, and we look for the most recent sharp rebound to open additional upside over the coming days back above critical medium-term resistance at 93.75. The latest impressive rally from Wednesday/Thursday reaffirms our outlook with the market establishing back above the 200-Day SMA for the first time since August 2009. Look for any intraday setbacks to now be well supported in the 91.00-91.50 area.
Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
If you wish to receive Joel's reports in a more timely fashion, e-mail firstname.lastname@example.org and you will be added to the "distribution" list.
If you wish to discus this topic or any other feel free to visit our Forum page
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.