Forex: USD/JPY retreat from 93.75 high reaches levels below 92.00

By IBTimes Staff Reporter | January 12 2010 2:31 AM

FXstreet.com (Barcelona) - Dollar's retreat from Jan 7 high at 93.75 extended during U.S. session to 91.80 low, which has been tested again during Asian session, as the pair's attempt to pick up remain capped, so far, below 92.20/30 area, previous lows.

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At the moment, the pair consolidates at levels around 92.00, with resistance levels at 92.30/40 (session highs), and above here, 92.65/75 (Jan 11/6 high) and 93.05/10. On the downside, support levels lie at 91.80 (Jan 11/session low), and below here, 91.50 (Jan 6 low) and 91.25 (Jan 5 low).

EUR/JPY recovery from 131.25 low on Jan 6 found resistance on Monday at 134.35, and the pair retreat extended to 133.00 low during Asian session, while following recovery attempts remain capped below 133.80. At the moment, the pair quotes around 133.50, with resistance levels at 133.80 and 134.00/10. Support levels are 133.50 and 133.00.

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