USD/JPY And The Fear Of 100

June 29, 2013 5:09 am GMT+0  in Chart Alert


USD/JPY had found strong support over 200 day moving average and also over the 38.2% retracement of  the move from 77.13 to 103.73. The upward gains were finding resistance near the 55-day EMA. All these facts were mentioned in this chart alert for USD/JPY.

Last week the pair finally broke over the 55-day EMA resistance. Apart from the above chart alert, please also check the following chart which indicates the recent history of the price action versus the 200-day moving average and 55-day EMA since Octover 2012. The red line is the 55-day EMA line and blue one is 200-day SMA line.

USD/JPY with 55-day EMA and 200-day SMA support

USDJPY with 200 day SMA and 55 day EMA

USDJPY and other resistances

USD/JPY and resistances

The biggest resistance is of course 100.00 but before that the recent break of 99.28 is indicating that bullish sentiments remain intact. After breaking over 99.28 the pair touched the exact 99.45 which had worked as a resistance earlier also. Overall a break over 99.47 should take the pair to retest 100.00 and above.

Please leave your suggestions/comments in the comment box below.

You may also like to check the weekly USD/JPY forecast and daily USD/JPY analysis.


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