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USDJPY is in down trend

Thu, Dec 4 2008, 03:02 GMT
by Franco Shao

ForexCycle.com


USDJPY is in down trend. Deeper decline is still possible to 92.00 zone in a couple of days. However, the long term key support of 90.92 (Oct 24 low) would more likely be held, and rebound could be seen before breaking below this level. Key resistance is now located at 93.68, above this level will indicate that the fall from 97.43 has completed.


USDJPY 4H Chart


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