USD/JPY 90.16 – 10 November 2009

USD/JPY Open 89.95 High 90.23 Low 89.68 Close 89.96
On Monday Dollar/Yen was trading quietly after the sharp fall on Friday. On the 1 hour chart the important key support 89.55 was broken downward at the beginning of last week, indicating strong bears with perspective targets towards 88.60. However, the CCI indicator is in the oversold zone and upwards on a 3 hour chart, so be careful for potential upward pressure towards the 91.30 resistance level. Break above that zone may seriously shake the bearish outlook and lead to stronger increasing pressure with potential test of 93.10.
Technical resistance levels: 90.25 91.30 93.10
Technical support levels: 89.70 88.60 87.95

Trading range: 90.30 – 89.65
Trend: Downward
Sell at 90.16 SL 90.46 TP 89.76

Already made +23 pips profit on USD/JPY today from the following signal:
5:36 GMT+1 Sell USD/JPY at 89.91 SL 90.17 TP 89.41 exited at 5:44 GMT.
Total today +95, yesterday +181, 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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