USD/JPY 89.26 – 14 October 2009

USD/JPY Open 89.74 High 90.14 Low 88.87 Close 89.67
On Tuesday the upward adjustment of the Dollar/Yen stopped. The currency couple tried to rise, reaching a peak at 90.14, closing the day at 89.67. Immediate support is this morning’s bottom at 88.85 level. The longer the Dollar is trading above this zone against the Yen, the opportunity for further upward correction with possible test of 90.15, followed by 91.25 remains. Failure of successive movement over that level, however, may lead to shake of the adjustment and renewal of the downward trend towards 87.75. The CCI indicator is neutral on the 1 hour chart, suggesting calm trading.
Technical resistance levels: 90.15 91.25 92.40
Technical support levels: 88.85 87.75 86.55

Trading range: 89.40 – 88.75
Trend: Downward
Sell at 89.26 SL 89.56 TP 88.86

Already made +13 pips profit on USD/JPY today from the following signal:
7:47 GMT+1 Sell USD/JPY at 89.17 SL 89.43 TP 88.67 exited at 8:37 GMT.
Total today +83, yesterday +88, 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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