February 8th, 2010 – Currently, the USD JPY is in a neutral momentum bias. The two main resistance lines to look forward to would be 91.26 and 88.53 . On the upside, if the USD JPY breaks the 91.26 resistance line then the expected target would be 93.75. On the downside, if the USD JPY break the 88.53 resistance line then the first target would be 87.35. The NFP (-20K) & unemployment rate (9.7%) didn’t give the currency a resistance or momentum.
{ 0 comments }
February 5th, 2010 – The USD JPY fell sharply to 88.53 and broke one of the main resistance lines of 89.12 . Currently, the USD JPY is at 89.32 and there will be three main resistance lines to look forward to today before the U.S unemployment number comes out; 91.26, 89.12, and 88.53 . On the upside, if the 91.26 resistance line is broken then the expectation would be that the USD JPY would target the 91.86 resistance line then the major resistance of 93.75. On the downside, if the 89.12 resistance line is broken then the 88.53 resistance would be targeted and further decline below the 88.53 resistance line; it would target the major resistance of 87.35 .
{ 0 comments }
