February 9th, 2010 – The USD JPY remains neutral bias at 89.50 level, at the moment. On the upside, if the 91.26 resistance is broken expect the USD JPY to target the 93.75 resistance. On the downside, if the 88.53 resistance is broken then the expectation is that the USD JPY to target the 87.35 resistance and it may go down even further to 84.81 (Nov.27th.09) low. There will be couple of economic news this week to give the USD JPY some needed momentum to push is bullish or bearish and they are Trade balance, Core retail sales, Retail sales, and University of Michigan Consumer Sentiment.
