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FXstreet.com (Barcelona) - The USD/JPY has slid downwards from its two-day high at 89.80 in recent American trading to once again find itself in the 89.57/89.15 range where the pair has been operating for most of this week.
At the moment of publication, one dollar is fetching 89.40 yen.
Even though the USD/JPY has been "steadier", the FXMarketAlerts Team deems it "vulnerable" while equities are still on the rise.
The ecPulse.com analysis team concurs, indicating that both the 4-hour and 1-hour charts point to a "decline" for the pair with the support level of 88.90 coming into focus and 89.90 providing topside resistance.
Forex: USD/JPY down from 89.80 high, "vulnerable" say analysts
Posted 2/9/2010 11:08 AM ET by from FXstreet.com
At the moment of publication, one dollar is fetching 89.40 yen.
Even though the USD/JPY has been "steadier", the FXMarketAlerts Team deems it "vulnerable" while equities are still on the rise.
The ecPulse.com analysis team concurs, indicating that both the 4-hour and 1-hour charts point to a "decline" for the pair with the support level of 88.90 coming into focus and 89.90 providing topside resistance.
