Tech on USD/JPY

Market news

17 March 2011

Tech on USD/JPY

Resistance 3:Y82.00
Resistance 2:Y81.20
Resistance 1:Y79.70
Current price: Y78.72

Support 1:Y78.40

Support 2:Y77.10

Support 3:Y76.50

Comments: Rate holds tight on concerns the Bank of Japan may intervene on forex after rate fell to 1995 lows around Y76.50 (strong support). Minor support is around session lows on Y78.40. Resistance comes on Asian high on Y79.70, then - at Y81.20 (Wednesday's high). Above there is a room for a rise up to Y82.00 (Mar 15 high).

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