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Forex: USD/JPY upside limited at 81.65

By FXstreet.com,  October 15, 2010, 03:04:00 AM EDT

FXstreet.com (Barcelona) - The Dollar extended its decline against the Yen yesterday with a fresh 15-year low at 80.90, and the pair attempted to pick up on US session, although capped at 81.65, previous support area, the pair has eased on Asian trade, reaching 81.10 session low ahead of the European opening.

On the downside, the pair might find support at 81.10/15 (intra-day level), and below here, 80.85 (Apr, 20 1.995 low) and 80.00. On the upside, immediate resistance lies at 81.65/75 (Oct 12/13 low), and above here, 81.95/00 (Oct 13 high), and 82.35 (Oct 12 high).

EUR/JPY remains trading sideways between 113.90/00 support and 114.70/80 resistance area consolidating after bouncing up from 112.85 low on Tuesday. Longer-term, the pair's uptrend from 110.60 low on Sept 14 has lost strength after rejection at 115.75 in October 6.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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