Tuesday, January 5, 2010
Anothe forex analysis :USD / JPY Technical Forex Analysis
The Dollar-Yen broke the resistance area that caught our 92.31-92.52. Short-term resistance is provided by the falling trend line from yesterday’s high, currently at 92.50. And if this area , the Dollar will take off, towards March 19th low 93.53, with a possibility to stop at 93.08, where there is a resistance that cannot be ignored.
On , if the price fails to capitalize on the break of 92.31-92.52, a drop towards 91.30 where the rising trend line from 84.81, will follow. And if this level is broken, the price will drop towards the important 90.30, the most important support .
• 91.85: the SMA100 on the hourly chart.