1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

USDJPY is forming a cycle bottom at 91.60

Discussion in 'Technical Analysis' started by ForexCycle.com, Apr 19, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDJPY might be forming a cycle bottom at 91.60 level on 4-hour chart. Bounce towards the falling trend line from 94.68 to 93.71 would more likely be seen in a couple of days, a break above the trend line resistance will indicate that the fall from 94.68 has completed at 91.60 already, then another rise towards 94.68 could be seen. Key support is now at 91.60, below this level will suggest that the pair remains in bearish movement, then deeper decline could be seen to 91.00 area.


    Daily Forex Forecast

Share This Page