Forex: USD/JPY steady around 78.24Tue, Jul 31 2012, 07:20 GMT | FXstreet.comShareRelated NewsForex: EUR/USD stuck in the 1.2270 region Forex: USD/JPY steady around 78.24 Forex: GBP/USD hovering over 1.5700 FXstreet.com (Barcelona) – Since mid-July the USD/JPY trades below the 100-hour moving average, with the exception of last Friday’s break above and yesterday’s full retracement. The pair is currently following that line at 78.24.Since early Asian session the pair is moving to the upside, with a low at 78.12, but the 100-hour MA could keep or delay it from further gains.“After the break of 79.00 the short-term bias is to the downside towards the 77.65 level. In the long term, however, we expect a bullish scenario: a test of the 83.00 resistance level”, wrote
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