by Tue, 09 Nov 2010 06:19:00 +0100
Forex: USD/JPY back at mid-range around 81.00
FXstreet.com (Córdoba) - The Japanese Yen is losing momentum after the strong spike seen earlier this Tuesday. USD/JPY dropped around 50 pips toward 80.74 before rebounding.
USD/JPY has slowly recovered part of the lost ground and is back trading around the 81.00 price zone, where it posts a 0.21% daily loss so far.
From a technical view, the 4CAST analyst team commented, "Upside still limited below the 81.48/60 resistance. Break needed to swing bias higher and set up retest of the 82.00 level. Clearance here needed to trigger stronger recovery. Under 81.00 expose 80.58 then 80.41 and 80.21 lows".
EUR/JPY on the other hand remains pressured, trading at 5-day lows at the 112.15 zone.
| Technical Analysis (2010-11-09 05:15 GMT) | |
|---|---|
USD/JPY 80.94/80.95 - O: 81.17 H: 81.445 L: 81.145 C: 81.27 | |
| Trend | R3: 81.3748 |
 | R2: 81.1724 |
| R1: 80.9700 | |
| S1: 80.5353 | |
| S2: 80.7376 | |
| S3: 80.9400 | |
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