USD/JPY: Technical Analysis – May 7, 2013

The USD/JPY pair fell from its minor resistance level (indicated below) on a 30 minute time frame. The price action may find little hesitation when it approaches the 50 day moving average (in green). The uptrend remains intact as the price is trading above its rising trendline and the 100 day moving average (shown in yellow colour).

USD/JPY M30″ title=”USD/JPY M30″ width=”1417″ height=”719″ />Important LevelsResistance99.94-99.76 Major99.47-99.27 MinorSupport98.09-97.83 Minor97.12-96.93 Major96.06-95.78 Major95.27-94.87 MajorDISCLOSURE & DISCLAIMER: The Above Is For Informational Purposes Only And Not To Be Construed As Specific Trading Advice. Responsibility For Trade Decisions Is Solely With The Naeem Aslam

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