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USD/JPY back under 91.00

Thu, Nov 5 2009, 05:08 GMT
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FXstreet.com (Buenos Aires) – USD/JPY Current Price: 90.66. Back under 91.00, pair continues having a hard time to clearly overcome the level; hourly charts indicators had turned to the downside, suggesting more falls to come in current session. If 90.50 gives up, pair can attempt a retest of 90.20 area; watch for a candle opening under 20 SMA that will support the downside bias.

“Also bigger time frames look bearish, so only a clear confirmation above 91.30 could change the pair bias for the next hours,” said Valeria Bednarik, collaborator at FXstreet.com.

Support levels: 90.50 90.20 89.80. Resistance levels: 91.10 91.40 91.80.

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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

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Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

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