Technical Analysis: USD/JPY 2012.03.28

  The pair did not manage to hold above 83.00, so we look for a new decline towards the 79.85-80.00 support area, right where the 50-Day SMA resides, or lower ahead of the 78.15-78.60 support area, right where both the 100-Day SMA and the 200-Day SMA reside. Any recovery is expected to be capped ahead of 84.00. However, a break and consolidation above 84.00 would allow testing the 85.50 resistance.     Edward Smith, technical analyst of company Admiral Markets.   At any use of the analytical material taken from a site of company Admiral Markets, and the secondary publication on any other resources, the rights to intellectual property for a dealing centre «Admiral Markets», the reference to a company site is obligatory.