Forex: USD/JPY: Dollar drops to a fresh month low at 93.45

  @ibtimes on August 20 2009 9:43 PM

FXstreet.com (Barcelona) - Dollar decline from Aug 13 high at 97.80 has extended as the pair fell from Thursday's high at 95.55 to hit a fresh month low at 93.45 on the Asian timeframe. At the time of writing, the Dollar trades at 93.70.

The Dollar remains right above one-month low at 93.45, and below there, next support levels lie at 93.10 (Jul 22 low) and 92.72 (Jul 14 low). On the upside, initial resistance level lies at 94.30, and above there, 94.55 (Aug 20 high) and 94.95(Aug 19 high).

EUR/JPY has declined during Asian session, from levels around 134.50 to 1.32.88 low, to bounce up to levels above 133.00 ahead of the European market opening times. On a wider perspective, the pair remains rangebound in a channel from 132.20 to 134.80. Support levels are 133.96 and 134.65. Support levels lie at 132.80 and 132.50.

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