|
USDJPY: Retains Its Broader Downside Bias |
 |
 |
 |
|
Technical Archives |
Written by FXTechstrategy |
Sep 03 10 16:56 GMT
|
USDJPY: Retains Its Broader Downside Bias
USDJPY: The pair continues to retain its broader downside bias as it looks to recapture its YTD low at 83.58 despite its price hesitation. A breach of there will open the door for more downside towards the 82.00 level, its psycho level with a cut through there aiming at the 81.00 level. Alternatively, a break of the 88.11 level will have to occur to annul its present downside pressure and bring gains towards the 89.14 level with a clearance of that level turning attention to the 89.68 level, its broken rising trendline. All in all, USDJPY remains biased to the downside in the medium term with eyes on additional lower prices.
|
About the AuthorMohammed Isah
Market Analyst
www.fxtechstrategy.com
This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are the author's own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which the author incur any responsibility. The does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report |
