USDJPY Analysis.
USDJPY stays in the trading range between 87.98 and 90.74. Moving sideways without trend in this range is expected in a couple of days. Near term resistance is located at 90.74, a break above this level will signal further rally to 92.50 zone. Initial support support is at 88.80 followed by 87.98, below 87.98 will indicate that the medium term downtrend from 94.61 (Jan 6 high) has resumed, and then deeper decline could be seen to 86.00 zone.
Archive for February, 2009
Daily Forex Analysis – February 4, 2009
Wednesday, February 4th, 2009Deflation eBook Event
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Daily Forex Analysis – February 3, 2009
Tuesday, February 3rd, 2009USDCAD Analysis.
USDCAD is in sideways consolidation in a range between 1.1464 (Nov 5, 2008 low) and 1.3015 (Oct 28, 2008 high). Further rebound to 1.2600 to reach the next short term cycle top on 4-hour chart would more likely be seen in a couple of days, and pullback is expected before breaking above 1.2765 previous high.
Daily Forex Analysis – February 2, 2009
Monday, February 2nd, 2009USDJPY Analysis.
USDJPY is trading in a range between 89.15 and 90.74. Sideways consolidation could be seen in a couple of days. Near term resistance is located at 90.74, a break above this level will signal further rally to 92.50 zone. Initial support support is at 89.15 followed by 88.42, below 88.42 will indicate that the medium term downtrend from 94.61 (Jan 6 high) has resumed, and then deeper decline could be seen to 86.00 zone.
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