by Mon, 28 Jun 2010 12:18:00 +0200
USD/JPY stays put around 89.30
FXstreet.com (Barcelona) - The pair is featuring weak oscillations between a daily high at 89.45 and an intra-day low at 89.22. The narrow margin both currencies are trading at shows a great deal of indecision amongst traders, as price just returned back to its opening at 89.30.
Sharing its technical insights, the AceTrader team stated that “although the rebound from Friday's low of 89.21 to 89.47 suggests sideways trading would be seen, as long as 89.78 holds, downside bias remains for recent decline from 92.89 to extend marginally below the 5-week low of 89.21 b4 correction”.
With regards to key horizontal levels to take into account, AceTrader team pointed at “89.51 / 89.78 / 89.98 as potential resistance levels on the upside, while on the downside, support may be found at 89.21 / 88.95 / 88.60”.
| Technical Analysis (2010-06-28 10:08 GMT) | |
|---|---|
USD/JPY 89.31/89.33 - O: 89.37 H: 89.41 L: 89.28 C: 89.32 | |
| Trend | R3: 89.8922 |
 | R2: 89.6686 |
| R1: 89.4450 | |
| S1: 88.8784 | |
| S2: 89.1017 | |
| S3: 89.3250 | |
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