Forex: USD/JPY: Dollar, consolidating between 89.40 and 89.70

By IBTimes Staff Reporter | November 16 2009 3:05 AM

FXstreet.com (Barcelona) - The Dollar has consolidated at levels below 90.00. After dropping from 90.60 high on November 12, the pair has opened a consolidation phase , and remains moving in an area from 89.40 to 89.70.

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Resistance levels lie at 89.70 session high and above here, 90.00 and 90.25/30 (Nov 9 high). On the downside, support levels lie at 89.15/30 (Nov 2, 11 low) and below here, 88.85 (Oct 14low) and 88.65.70 (Oct 8 high).

EUR/JPY bounced on Friday at 132.80, and Euro recovery has extended to levels above 134.00 during Asian session. At the moment of writing the Euro trades at 134.20. On a bigger picture, the pair remains in a range from 133.00/20 to 135.35. Resistance levels lie at 134.45 and 135.00/20. Support levels lie at 133.20 and 132.85.

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