Japanese Yen Pairs- Which Currency Pairs Broke The Support Trends
February 24, 2013 2:12 am GMT+0 in Chart Alert
Some Japanese yen currency pairs had been following clear support trends. In this post we will check any updates of some of those pairs.
USD/JPY – Trend continues
Past 14 weeks the price action has been mainly over 5-Week EMA level and the 5-week EMA has been acting as support. The trend continues even when there is a loss of momentum in the uptrend. Check USD/JPY weekly chart:
EUR/JPY – Indication of a Break in the Trend
EUR/JPY was also following the same trend of support near 5-week EMA for past 13 weeks. The trend seems to be breaking now even though the weekly closing was above that support level. Check EUR/JPY weekly chart:
GBP/JPY Breaks the trend
GBP/JPY had been finding support near 5-week EMA for 9 weeks continuously. The first break of that took place 4 weeks back but the pair again recovered and mainly stayed over that support level. Now that trend seems to be finally broken. Check GBP/JPY weekly chart:
AUD/JPY – Will the trend break soon?
Like other JPY pairs, AUD/JPY was also seeing the same trend for past 16 weeks where the support has been coming near the 5-week EMA. The loss of momentum in the uptrend and the early efforts to break below that support gives a warning that the currency pair may break that trend.