USDJPY: seeking 88-09:00 (CET)

By IBTimes Staff Reporter | November 19 2009 7:26 AM

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The price is well under the significant support for the Japanese exports, at 90 yens per dollar. If the price continues with the short trend, it will go back under 89 and then try to break the 88.74 area, where it rebounded twice in the last few days. Breaking this area will leave the door open to 88.242, the last support before 88 yens per dollar. On the upper side, it build a good resistance at 89.249 yesterday, and breaking and consolidating it is the first important step so we can think of an upwards day, as it's also yesterday's high. Before getting to 90, which seems an ambitious goal, the price will meet 89.73 yens per dollar.