USD/JPY mixed and trading at 94.26

Tue, 06 Apr 2010 03:15:00 +0200

USD/JPY mixed and trading at 94.26

FXstreet.com (Sydney) – The USD/JPY has had mixed results and is trading at 94.26. The pair opened on 94.31 and set an intraday high of 94.38. Since then, the pair has displayed downward tendencies in the hourly charts. The USD/JPY finds support at 93.9595, resistance at 94.5207 and is considered slightly bearish.

While the dollar has risen during the first quarter of 2010, there are speculations that it will fall. The USD has fallen close to 0.5% against major currencies after rising 4.1% in the first 3 months to March. The speculation is that low interest rates may mean gold becomes more attractive.

Technical Analysis (2010-04-06 01:08 GMT)

USD/JPY 94.05/94.07 - O: 94.11 H: 94.14 L: 93.99 C: 94.05

Trend R3: 94.6710
R2: 94.4355
R1: 94.2000
S1: 93.5499
S2: 93.7850
S3: 94.0200