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Forex: USD/JPY: Dollar remains capped below 89.00

20 Nov, 2009 @ 03:02 am ET | written by FXStreet


FXstreet.com (Barcelona) - Dollar's decline from Wednesday's high at 89.50 found support on Thursday at 6-week low at 88.65, and the pair picked up to 89.05 where it has been rejected, to pullback during Asian session, reaching lows at 88.65.

Initial support comes at 88.65 intra-day low, and below here, next support levels are 88.35 (Oct 9 low) and 88.00/25 (Oct 7, Sept 28 lows). On the upside, resistance levels lie at 89.00/10 session high, and above here, next resistance levels lie at 89.45/55 (Nov 17 and 19 high) and 89.75 (Nov 16 high).

EUR/JPY decline from 134.00 high on November 18 found support on Thursday at 131.75, and the Euro recovery atrtemt has been capped on early Asia session several pips below 133.00. At the moment of writing, the Euro trades at 132.40. Resistance levels are 133.00 and 133.50. Support levels are 132.20 and 131.75.

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