Forex: USD/JPY falls further to 90.55

Wed, Nov 4 2009, 21:37 GMT
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FXstreet.com (Córdoba) – The Dollar weakened further against the Yen after being unable to hold above 91.00. USD/JPY fell to 90.55, reaching the lowest price of the American session. Currently the pair trades at 90.67/70, 0.40% above today’s opening price. Greenback is still up for the day but moved away form the highs of the day that lie at 91.32.

Below 90.50, the next support lies at 90.00/05 (intra-day low) and then at 89.85 (Nov 3 low). On the upside the pair could face resistance at 90.75 and above at 90.05.

Michael J. Malpede, analyst at Easy Forex affirms: “ ey technical levels to watch in USD/JPY include support at 89.18 the November 2nd low with resistance at 91.80 the October 28th high.”

USD/JPY

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