USD/JPY fell to 90.80

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FXstreet.com (Buenos Aires)- Yen is picking up against most rivals as stocks tumble across the world; European indexes are all in red, while US futures continue falling, sending USD/JPY to test 90.80 support area, fresh 9-day low. Holding under 91.00, and according to Stoyan Mihaylov from Deltastock.com, pair could reverse from this low as he states: "current slide filled our target at 90.83 and we will expect a reversal around these levels to aim at 93.50, en route to 94.77. Trigger on the upside is 91.90".

He also adds that the pair "is in a broad consolidation above 84.78 short-term low. Trading is situated above the 50- and 200-day SMA, currently projected at 92.15 and 91.32".



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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