Tue, 15 Jun 2010 18:44:00 +0200

USD/JPY tests 91.40 resistance zone

FXstreet.com (Buenos Aires) – Pair has been trading in between 90.80 and 91.20 since early June, unable to define a trend and hovering around the 100 DMA currently flat around 91.60. Having reached an intraday low of 91.07 early Europe, Wall Street positive tone is pushing the pair back above 91.40 yet movement seems unable to hold.

According to Valeria Bednarik, Fxstreet.com chief strategist, “capped again at 91.40 hourly indicators remain bearish, while 4 hours one support the bias. Positive tone in stocks should halt the slump in the cross, yet only above 91.60 pair would regain some bullish tone”.

Technical Analysis (2010-06-15 16:38 GMT)
USD/JPY 91.35/91.37 - O: 91.34 H: 91.39 L: 91.3 C: 91.36
Trend	R3: 91.8520
	R2: 91.6235
	R1: 91.3950
	S1: 90.7788
	S2: 91.0069
	S3: 91.2350