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Usd/Jpy key level to watch

Posted on June 8, 2009 at 12:38 in Long-Term Analysis, Short-Term Analysis by Valeria Bednarik

Pair has reached a key daily level, a descendant trend line coming form 110.28, today at 98.90, also past Friday’s high. That’s the point the pair needs to break, to resume uptrend. Mean time, 97.20 zone should hold the downside, as it represents the 38.2% retracement of the last daily upleg coming from 94.43. For today, support will come at 94.20, 94.05 and 97.80 zone. Above 98.65, resistances will come at the mentioned 99.20, and then the strong zone between 99.50/70.

Tags: usdjpy

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