Forex: USD/JPY rally stalls at 93.40

on January 07 2010 9:24 AM (Barcelona) - Dollar rally from 92.00 session low has stalled at 93.40, fresh 4-month high, and the Dollar has pulled down to levels right below 93.00 after the release of jobless claims data.

On a wider point of view, we see the pair testing previous dynamic support line turned resistance around 93.10, according to the analysis team: The dollar versus the yen breached the resistance mentioned this morning at 92.45, strongly nearing the pivotal resistance that currently ascended towards 93.10 -support level for the previously breached ascending channel-.

Resistance levels, according to the analysis team, lie at 93.10, 93.65 and 94.10. On the downside, support levels lie at 92.45, 91.90 and 91.25.


Share this article

More News from IBT MEDIA