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USDJPY’s rebound from 94.87 extends to 96.56 level

Discussion in 'Technical Analysis' started by ForexCycle.com, Jun 25, 2009.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDJPY’s rebound from 94.87 extends to 96.56 level. The following pullback could possibly be resumption of downtrend from 98.88. Deeper decline is possible to test 94.87 previous low support, a break below this level will signal further fall towards 94.00 level. Near term resistance is now at 96.56, only rise above this level will indicate lengthier correction of downtrend is underway, and the next target may be at 97.00-97.50 area.


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