USD/JPY 90.60 – 6 November 2009

USD/JPY Open 90.79 High 90.84 Low 90.08 Close 90.72
Dollar/Yen made an upward movement on Thursday, rising from the 90.08 bottom to the peak at 90.84, closing the day at 90.72. On the 1 hour chart a secondary trend line did a good support job at the former resistance level 89.52, preventing the bears attack. This may seriously shake the bearish outlook. Getting back on track into the bullish channel should be regarded as a downward attempts failure, and continuation of the ascending scenario with potential test of 92.50. Immediate support is 90.10, followed by 88.90. The CCI indicator is negative on the 1 hour chart, indicating bearish pressure.
Technical resistance levels: 90.85 92.00 93.10
Technical support levels: 90.10 88.90 87.95

Trading range: 90.70 – 90.10
Trend: Downward
Sell at 90.60 SL 90.90 TP 90.20

Already made +3 pips profit on USD/JPY today from the following signal:
7:53 GMT+1 Sell USD/JPY at 90.44 SL 90.70 TP 89.94 exited at 7:54 GMT.
Total today +102, yesterday +75, 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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