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USD/JPY struggles to break 92.60 resistance

By FXstreet.com,  May 14, 2010, 10:06:00 AM EDT

FXstreet.com (Barcelona) - USD/JPY has been ranging between 92.60 and 92.20, trailing to the south of the range after failing to break a resistance at the 92.60 level which has proved resilient.

The pair has remained in range since recovering from a spike down to a 2-month low at 87.85 on May 6. According to FXstreet.com analyst Valeria Bednarik, to the next resistance levels at 92.10 and 91.80. Valeria also notes that, should the pair fall to 91.50, buying pressure rumored to originate in the Japanese government should boost the pair back up.




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

Referenced Stocks:



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