Forex: USD/JPY finds resistance at 89-day moving average

on Jun 27, 2013
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_iNVEZZ.com Thursday June 27th_: Yesterday’s fall of 0.52 percent has been recovered in trading so far today, with the pair currently changing hands at 98.20. Over the past few days the 89-day simple moving average has been acting as a resistance and is at the moment at 98.22.

If the recent uptick is to continue the pair must overcome Monday’s high of 98.69 first before tackling the 98.96 resistance level. However, the pair may descend in search of a more profitable buying price and to add more longs.
Resistance levels for today: 98.25, 98.70 and 99.00.
Support levels for the day: 97.60, 97.20 and 96.90.
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JPY Forex