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USDJPY’s bounce extended to 91.08

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March 15th, 2010, 3:16 am | By forexcycle | Published in Daily Technical | No Comments »

USDJPY’s bounce from 88.14 extended to as high as 91.08 last week. Further rally to test the resistance of the falling trend line from 93.75 (Jan 7 high) to 92.14 is expected later today, a clear break above the trend line resistance will target 92.00 area. Key support is located at 89.63, only fall below this level will indicate that the bounce from 88.14 has completed, then another fall towards 87.00 could be seen.

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