USDJPY Analysis – Feb 19, 2009

USDJPY’s rebound from 87.12 extends to as high as 93.95 level. Further rise is expected to test 94.61 long term key resistance, a break above this level will indicate that the fall from 110.66 (Aug 15, 2008 high) has completed, and then further rise could be seen to 100.00 zone.

For long term analysis, USDJPY is in long term bearish movement. Further fall could be seen to test 79.75 (1995 low) support.

usdjpy daily chart