Chart Alert: USDJPY At 2 Year 8 Months Old Resistance Level
February 2, 2013 10:37 am in Chart Alert
USD/JPY continued the support pattern which has been in place since November 2012 beginning. For close to 3 month the weekly support is coming at 5-week EMA level. The weekly chart on the left hand side shows this on-going support level.
During last week the pair touched 92.96 which was exactly the same level which had proved to be a resistance during the week starting May 17th 2010. With any break above it USD/JPY may see 94.98 which had come as a very strong resistance on May 5, 2010 and from where the pair had fallen to the low of 75.36.
USD/JPY – Where it was 2 years 8 months back
Break of trend line resistance