Forex: USD/JPY retreats to 90.10 after testing weekly high at 90.35

Fri, Dec 18 2009, 12:25 GMT
http://www.fxstreet.com

Related News

FXstreet.com (Barcelona) – The Dollar is trading on consolidation mode against the Yen after the last bullish movement which take the USD/JPY from 88.90 in the early Asian session to test intra-week high at 90.35. Currently the pair is trading around 90.10/20, 0.40% above today's opening price action at 89.95.

George Clement, analyst at Swiss e Trade, comments the Yen's downside potential: “In today`s trading, we focus on favorable buying points for the USD / JPY, intraday profiting from an emerging longer-term trend. The dollar is still acting strongly against the yen and is currently trading around 90.30, near a resistance level. We expect first a consolidation zone, between 89.80 and current prices, resulting in another upmove from 89.80 to levels above 90.20.”

USD/JPY

© 2010 “FXstreet.com. The Forex Market” All Rights Reserved. Every effort is made to provide accurate and complete information. However, with the thousands of documents available, often uploaded within short deadlines, we cannot guarantee that there will be no errors. Any republication or redistribution of FXstreet.com content is expressly prohibited without the prior written consent of FXstreet.com.
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.
Any opinions, news, research, analyses, prices or other information contained on this story, 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.