Forex: USD/JPY recovery attempt capped at 92.55, risk remains on the downside

By IBTimes Staff Reporter | January 11 2010 6:39 AM

FXstreet.com (Barcelona) - The Dollar remains weak after dropping from 93.75 high, as the pair's attempt to set a base at 92.15 has failed with the Dollar recovery attempt capped at 95.55, and sent back to levels around 92.35 at the moment of writing.

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The Dollar remains close to 92.15 session low an risking to extended decline, according to the FXMarketAlerts Team: Weak stance on the daily tools see risk for break to extend rejection from Fri's 93.78 high. Break to trigger stronger reaction to 91.25/53 area then 91.00/14 and 90.78 area.

Resistance levels remain at 92.75/85, and above here, 93.20 (Jan 4 high) and 93.45/50 (200 day SMA).

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