USD/JPY 90.55 – 25 September 2009

USD/JPY Open 91.27 High 91.54 Low 90.37 Close 91.29
On Thursday Dollar/Yen attempted to drop, reaching a bottom at 90.37, where further downward movement was limited, and the currency the pair climbed to 91.54, closing the day at 91.29. The 90.35 support level played a key support at this stage. Our preferable scenario is still bearish in the short term. The nearest resistance is yesterday’s top at 91.54, the break of which may shake the current downward channel. The CCI indicator is down to the 100 line on the 1 hour chart, suggesting downward pressure.
Technical resistance levels: 91.55 92.45 93.65
Technical support levels: 90.35 89.20 88.15

Trading range: 90.65 – 90.05
Trend: Downward
Sell at 90.55 SL 90.85 TP 90.15

Already made +18 pips profit on USD/JPY today from the following signal:
5:40 GMT+1 Sell USD/JPY at 90.76 SL 91.02 TP 90.26 exited at 7:01 GMT.
Total today +117, yesterday +115, as shown in details here.


Disclaimer: Please note that our technical analysis is not daily/evening forecast, neither a trading signal. Therefore the expectations shown here may differ from our forecasts and signals, to give readers different point of view.

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