Spot USD/JPY Forecast for 03/07 by

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USDJPY is now holding above our support level of 93.05 & below our resistance level of 93.75. A push through 93.75 resistance targets 93.93/94.14. If this does not hold us back look for a move towards the Feb highs at 94.77. A break below 92.90 however, targets 92.64. Below here there is good support at 92.30 but failure could see us testing the next level of 91.97.





Long term levels

94.77      2013 High

91.41      January High

90.88      Last Week’s Low

90.61      Monthly 23.2% Fibonacci

89.77      55 Day Moving Average


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