Forex Forum

Aeron News => Forex Market: News/ Trend/ Technical Analysis => Topic started by: pranjali on February 15, 2010, 11:15:29 pm

Title: USDJPY Analysis.
Post by: pranjali on February 15, 2010, 11:15:29 pm

USDJPY is testing the resistance of the falling price channel. A clear break above the channel resistance could indicate that the fall from 93.75 has completed at 88.57 level, then the following uptrend could take price back to 92.00 area. As long as the channel resistance holds, we’d expect downtrend to resume and one more fall towards 88.00 is still possible.

http://blog.forexcycle.com/wp-content/uploads/2010/02/20100216_usdjpy_1.gif (http://blog.forexcycle.com/wp-content/uploads/2010/02/20100216_usdjpy_1.gif)