Forex: USD/JPY attempting to pick up from 89.77, fresh 4-week low

By IBTimes Staff Reporter | January 22 2010 2:54 AM

FXstreet.com - (Barcelona) - Dollar recovery from 90.30 low on Tuesday was abruptly capped at Wednesday's US session, as the pair collapsed more than 200 pips lower to bottom at fresh 4-week low at 89.75 during Asian session, to return to levels above 90.00 at European opening times.

Sponsorship Link

At the moment, the pair trades at 90.30, with next resistance levels at 90.50/55 (intra-day resistance), and above here, 90.80 (Jan 20 low) and 91.00/15. On the downside, support levels are 89.80 session low, and below here, 89.30 (50% Nov/Jan rally), and 88.85 (Dec 18 low).

EUR/JPY decline from Jan 15 high at 133.60 area, extended on Thursday to a fresh 9-month low at 126.55 to pick up during Asian session to 127.90 session high at European session opening times. Above here, next resistance levels lie at 128.40/50 and 129.35/50. On the downside, support levels lie at 126.55 and 126.10.

.