by Fri, 30 Apr 2010 17:32:00 +0200
Forex: USD/JPY rebounds at 93.85 and rises back above 94.00
FXstreet.com (Córdoba) - The Dollar extended its downside rally against the Yen and fell to 93.85, hitting a fresh intra-day low. USD/JPY rebounded and rose back above 94.00 to 94.14. The rally of the yen across the board eased in the last hour.
USD/JPY currently trades at 94.09/12, less than five pips below the price it had at the begging of the day. The Dollar erased previous gains and now is fighting to hold above 94.00.
To the downside support levels lie at 93.85/90 (session low / Apr 29 low) and below at 93.60 and 93.30. Resistance levels could be located at 94.30 and above at 94.55/60 (session high).
| Technical Analysis (2010-04-30 15:08 GMT) | |
|---|---|
USD/JPY 94.02/94.05 - O: 94.02 H: 94.09 L: 93.94 C: 94.04 | |
| Trend | R3: 94.5454 |
 | R2: 94.3102 |
| R1: 94.0750 | |
| S1: 93.4156 | |
| S2: 93.6503 | |
| S3: 93.8850 | |
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