TECHNICAL ANALYSIS BY NSFX 23.08.2015
The rate went below the 21SMA and the 55EMA as well and might test soon the 200SMA in area 121. Below this dynamic level there is a static support at 120.41 and a violation of this level should bring UsdJpy to test 118.55. In case the medium term bullish trendline will not be breached is likely a rally to 123.5 and then a test of the supply line. A breakout of this dynamic resistance can lift UsdJpy to 127.5.