Forex: USD/JPY rally stalls at 93.40

on January 07 2010 9:24 AM

FXstreet.com (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 ecPulse.com 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 ecPulse.com 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.

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