Japanese Yen Pairs- Which Currency Pairs Broke The Support Trends
February 24, 2013 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.