USDJPY Analysis - March 6, 2010 Bookmark and Share
Forex Market Analysis  |  Written by ForexCycle.com |  Saturday, 06 March 2010 04:35 GMT
USDJPY remains in downtrend from 93.75. Another fall towards 84.82 previous low is still possible. Resistance is at the falling trend line from 93.75 to 92.14, as long as the trend line resistance holds, downtrend could be expected to continue.

For long term analysis, USDJPY formed a cycle top at 93.75 level on weekly chart. Fall towards 84.82 previous low is expected.

usdjpy daily chart
 

Recommended Forex Trading Platforms

Voted Best Trading Platform of the year 2011 by World Finance Magazine, 4XP is the premier online broker, offering commission-free Forex, CFD’s, tight fixed spreads and real-time prices. 4XP offers cutting-edge software, advanced charting, mobile trading, daily analysis and 24 hour multilingual support.