$USDJPY approaches upside resistance starting at 91.31
Written October 30, 2009 at 8:33 AM EST by Greg Michalowski
The 200 and 100 hour moving averages (green and blue line in the chart above), come in at the 91.31 and 91.41 level currently. Look for these levels to provide upside resistance for the USDJPY today. A break to the top side would target good resistance at 91.72 where the low from July and the 38.2% retracement of the move down from July is found.
On the downside, look for support at the 91.01 level where the 100 bar MA is found on the 5 minute chart. 90.91 and 90.75 are further intraday support levels for today.
Categories: Forex Trading |
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