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USDJPY At 2 Year 8 Months Old Resistance Level

February 2, 2013 10:37 am GMT+0  in Chart Alert

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USD/JPY - continued 5 day EMA supportUSD/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

USD/JPY weekly chart - break above the resistance of the week of May 16 2010

Break of trend line resistance

USDJPY- break over the trend line

 

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