USDJPY trades in a range between 90.07 and 91.31. Another fall to re-test the support of the rising trend line from 88.01 to 88.83 is possible later today. As long as the trend line support holds, price action from 91.31 is treated as consolidation of uptrend from 88.01 and one more rise towards 92.00 is expected. However, a clear break below the trend line support will indicate that the uptrend from 88.01 has completed, then the follow downtrend could take price to 88.50 zone.
Friday, October 23, 2009
USDJPY Analysis.
USDJPY trades in a range between 90.07 and 91.31. Another fall to re-test the support of the rising trend line from 88.01 to 88.83 is possible later today. As long as the trend line support holds, price action from 91.31 is treated as consolidation of uptrend from 88.01 and one more rise towards 92.00 is expected. However, a clear break below the trend line support will indicate that the uptrend from 88.01 has completed, then the follow downtrend could take price to 88.50 zone.

USDJPY trades in a range between 90.07 and 91.31. Another fall to re-test the support of the rising trend line from 88.01 to 88.83 is possible later today. As long as the trend line support holds, price action from 91.31 is treated as consolidation of uptrend from 88.01 and one more rise towards 92.00 is expected. However, a clear break below the trend line support will indicate that the uptrend from 88.01 has completed, then the follow downtrend could take price to 88.50 zone.
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