USD/JPY - daily technical Forecast

on February 22 2010 10:27 AM

USD/JPY closed lower on Friday as it extends this week's decline. A late-day bounce tempered early losses and the high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. If it extends this month's decline, January's low crossing is the next downside target. Closes above the 20-day moving average crossing are needed to confirm that a short-term low has been posted.

More News from IBT MEDIA