USD/JPY 91.99 – 30 December 2009

USD/JPY Open 91.99 High 92.26 Low 91.53 Close 91.98
Dollar/Yen made another wobbly movement on Tuesday, forming divergence on the 3 hour chart. The currency couple continued climbing from 91.53 to 92.07, closing the day at 91.98. Quotes consolidated inside an ascending triangle on the daily chart, indicating that bullish pressure is pushing the Dollar up against the Yen, which may be accelerated further if price break above the 92.26 support and next target. In downward direction important support level is yesterday’s bottom at 91.53. The longer prices remain above it, our preferable scenario will be ascending. The CCI indicator is neutral and leaning downwards, suggesting insignificant downward pressure.
Technical resistance levels: 92.26 92.92 93.85
Technical support levels: 91.53 90.40 89.53

Trading range: 91.85 – 92.50
Trend: Upward
Buy at 91.99 SL 91.69 TP 92.39


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