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

USDJPY rebounded sharply from 90.12

Discussion in 'Technical Analysis' started by ForexCycle.com, Sep 16, 2009.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Joined:
    Sep 1, 2008
    Messages:
    914
    Likes Received:
    0
    After touching 90.20 previous low, USDJPY rebounded sharply from 90.12, suggesting that a short term cycle bottom is being formed. Key resistance is now located at 91.62, a break above this level will confirm the cycle bottom and indicate that the downtrend from 97.78 has completed at 90.12 level already, then the following uptrend will take price back to 94.00 zone. Near term support is at 90.12, only fall below this level will signal deeper decline to 89.00-89.50 area.

    [​IMG]

    Daily Forex Signals
     
Loading...

Share This Page