FXstreet.com

Short Term Analysis

0

0

USDJPY remains in downtrend from 92.32

Fri, Nov 20 2009, 02:49 GMT
by Franco Shao

ForexCycle.com


USDJPY remains in downtrend from 92.32 and the fall extended further to as low as 88.64 level. Deeper decline is still possible later today. Rebound would more likely be seen before breaking below 88.01 previous low. Support and resistance are located at the borders of the falling price channel. A clear break above the channel resistance will indicate that the downward trend from 92.32 has completed, then the following uptrend could bring price back to 91.00 or even 92.00.


USDJPY 4H Chart


Archive

ForexCycle.com  | China
http://www.forexcycle.com/ | info@forexcycle.com

Legal disclaimer and risk disclosure

Investment and trading decisions are solely your responsibility. None of the ForexCycle.com newsletters or web site materials should be interpreted as a recommendation or solicitation to take any short or long positions, or to take any specific action.

Related reports

Daily Market Report - There are indications that the market is reducing its exposure to risk by Wells Fargo Investments, LLC
Fri, Nov 20 2009, 15:19 GMT

Fundamental Currencies Comments - Dollar climbs vs. majors by ecPulse.com
Fri, Nov 20 2009, 15:15 GMT

Currency Majors Technical Perspective by FXstreet.com Independent Analyst Team
Fri, Nov 20 2009, 14:22 GMT

The Daily Currency Analysis - TraderPlanet Daily Currency Analysis by TraderPlanet.com, LLC
Fri, Nov 20 2009, 14:10 GMT

FX View - Trichet comments spur risk aversion rally by Interactive Brokers LLC
Fri, Nov 20 2009, 13:24 GMT

usdjpy

View All

Related content

Forex: USD/JPY retreats to 88.85 after hitting intra-day high at 89.15
FXstreet.com | Fri, Nov 20 2009, 17:43 GMT

Forex: USD/JPY rises to 89.13, fresh intra-day high
FXstreet.com | Fri, Nov 20 2009, 15:02 GMT

Forex: USD/JPY tests MA55 hourly at 89.05
FXstreet.com | Fri, Nov 20 2009, 12:55 GMT

European Morning Wrap Up; USD, JPY firm
Forex Live | Fri, Nov 20 2009, 11:59 GMT

UPDATE:Asian Shares End Mostly Lower; Tech Follows US Downturn
Dow Jones | Fri, Nov 20 2009, 11:20 GMT

usdjpy

View All

Interested in forex trading? forex brokerage firms!


FX Solutions LLC
Contact the broker/FDM
Open a demo account
ACM Advanced Currency Markets SA
Contact the broker/FDM
Open a demo account
CitiFX Pro
Contact the broker/FDM
Open a demo account
Deutsche Bank
Contact the broker/FDM
Open a demo account
FXDD
Contact the broker/FDM
Open a demo account

GET CASH BACK FOR YOUR TRADES!   Learn more about the Pip Rebate Program

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

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.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

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.

©2009 "FXstreet.com. The Forex Market" All Rights Reserved.