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Usd/Jpy in the short term

Posted on January 26, 2009 at 11:58 in Short-Term Analysis by Valeria Bednarik

The pair is fighting a daily descendant trend line, that has been holding the upside: the 89.50 zone should give enough resistance in the short term, and supports will be 89.10, the zone @ 88.60 and finally 88.20. A 4 hours candle opening above the congestion zone between 89.45/89.60, could send the pair to retest the key 90.00 zone. Above it, we have 90.30, and hard to see a break up today.

Tags: usdjpy

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