Forex: USD/JPY: Dollar retreats from 91.30, pares Wednesday's gains

Thu, Nov 5 2009, 07:55 GMT
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FXstreet.com (Barcelona) - The Dollar rose on Wednesday from 90.05 low to test 91.30 resistance on post-fed rally but it was rejected and the Dollar depreciated during Asian session, returning to levels around 90.30 at the moment of writing.

The pair struggles now to break 90.30/40 support, and in case of further decline, next support levels would be at 90.00/05 (Nov 4 low) and 89.85 (Nov 3 low). On the upside, resistance levels are 91.00/05, and above here, 91.30 (Nov 4 high) and 91.60/65 (Oct 30 and 29 highs).

EUR/JPY rally from 131.75 reached resistance at 135.75 after Fed statement's release, and the pair declined during Asian session, reaching levels below 134.00 at the moment of writing. Immediate support lies at 133.90, and below here, 133.00/20. Resistance levels lie at 135.20 and 135.75.

USD/JPY

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