24.02.201404:55 Forex Analysis & Reviews: Technical analysis of USD/JPY for February 24, 2014

Long-term review

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The pair is trading at the level of $102.66 in Asia's trading session. In the hourly chart, the pair is trading above 21 and 40DEMA levels. Yesterday's high at the level of 102.83 is the crucial resistance. The area of 101.67-101.39 is the support zone. In the daily chart, the pair is trading in a ascending triangle in a buy mode. RSI favours buying mode on positional basis.

Intraday

S1 102.40 R1 102.83

Positional

S1 101.67 R1 102.68

S2 100.0 R2 102.74

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