USD/JPY Weekly technical Outlook

14 November 2009 @ 12:11 pm EDT

Despite rebounding to 90.60, USD/JPY failed to sustain gain and weakened again towards the end of the word. Fall from 92.31 should still be in progress. Initial bias is mildly on the downside this week and break of 89.28 will bring fall resumption to 88.00 low first. While some recovery might be seen, break of 90.60 is needed to be first signal that USD/JPY has bottomed. Otherwise, outlook will remain bearish.

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