Forex: USD/JPY retreats from 91.85 high, approaching 91.00 area

By IBTimes Staff Reporter | December 24 2009 2:38 AM

FXstreet.com (Barcelona) - Dollar rally from 87.35 low on December 9th, found resistance at 91.85 and after two unsuccessful attempts to break higher, the pair has eased during Asian session to levels around 91.10 at European opening times.

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Initial support level lies at 91.00 (Dec 22 low), and below here 90.80 (Dec 4 high) and 90.25 (Dec 21 low). On the upside, resistance levels lie at 9.85 (Dec 22/23 highs) and above here, 92.30 (Oct 27 high) and 92.55 (Sept 21 high).

EUR/JPY rally from 127.35 low on December 17 found resistance on Wednesday at 131.45/50 area, which was tested again on early Asian session, although the Euro failed to break higher and pulled back to 131.00 area at European opening times. Support levels lie at 130.80 and 130.55. Resistance levels are 131.60 and 131.75.

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