Long Term Forex Analysis
USDJPY formed a trading range between 88.01 and 92.32
Sat, Nov 14 2009, 12:22 GMT
by Franco Shao
ForexCycle.com | View company's profile
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USDJPY formed a trading range between 88.01 and 92.32. Moving sideways in the range is expected and deeper decline to 88.50 is possible next week. However, rebound would more likely be seen before breaking below 88.01 previous low and another rise to 95.00 is still possible after consolidation. On the down side, the fall from 92.32 could possibly be resumption of downtrend, a break below 88.01 will indicate that the downward trend from 101.43 has resumed, then another fall could take price to retest 87.12 long term support.
For long term analysis, USDJPY might be forming a cycle bottom at 88.01 level on weekly chart. Key resistance is at 92.53, a breakout of this level will confirm the cycle bottom.

Published on
Sat, Nov 14 2009, 12:34 GMT
Archive
- USDJPY traded in a narrow range between 89.63 and 91.08
Published On Sat, Mar 20 2010, 01:02 GMT
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- EURUSD remains in downward movement from 1.5144
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- GBPUSD's downtrend extends to 1.5350
Published On Sat, Feb 20 2010, 02:37 GMT
- USDJPY's fall extended to 88.57
Published On Sat, Feb 6 2010, 02:53 GMT
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