Forex: USD/JPY recovery attempt capped at 92.55, risk remains on the downside

Mon, Jan 11 2010, 11:39 GMT
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FXstreet.com (Barcelona) - The Dollar remains weak after dropping from 93.75 high, as the pair's attempt to set a base at 92.15 has failed with the Dollar recovery attempt capped at 95.55, and sent back to levels around 92.35 at the moment of writing.

The Dollar remains close to 92.15 session low an risking to extended decline, according to the FXMarketAlerts Team: "Weak stance on the daily tools see risk for break to extend rejection from Fri's 93.78 high. Break to trigger stronger reaction to 91.25/53 area then 91.00/14 and 90.78 area."

Resistance levels remain at 92.75/85, and above here, 93.20 (Jan 4 high) and 93.45/50 (200 day SMA).

USD/JPY

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