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Usd/Jpy set for a leg higher

Posted on May 26, 2009 at 11:56 in Short-Term Analysis by Valeria Bednarik

Pair continues ranging but setting for a new upleg: 20 SMA is turning slowly to the upside, while momentum suport the view. Consider the 95.25/30 zone as the resistance level to clear; once above that level, expect the pair to continue at least to the 95.60 zone and above close to 96.10. Supports from here will be at 94.80 and the 94.40 zone that should hold the downside.

Tags: usdjpy

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