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Forex: USD/JPY picks up and approaches 81.65 range top

By FXstreet.com,  October 19, 2010, 02:23:00 AM EDT

FXstreet.com (Barcelona) - The Dollar has advanced against the Yen during Asian session, extending recovery from 81.15 support area, to levels beyond the 100-hour SMA, reaching session high at 81.55, about ten pips shy of the last four days range top, at 81.65.

On the upside, immediate resistance4 lies at the mentioned 81.65 (Oct 15 high), and above here, 81.85 (Oct 14 high) and 82.00 (Oct 13 high). On the downside, support levels lie at 81.10/15 (Oct 18 low/session low), and below here, 80.85 (Apr, 20 1.995 low) and 80.00.

EUR/JPY decline from 114.75 high on Thursday and Friday extended sharply on Monday, and the pair dipped to a fresh 4-week low at 112.40, to pick up during US session, and, capped below 113.70, the Euro has remained consolidating above 113.00 during Asian trade.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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