Forex | Forex | Forex: USD/JPY: Dollar picks up slightly from 6-week low at 91.94 (03/09/2009 07:02:00)

Forex: USD/JPY: Dollar picks up slightly from 6-week low at 91.94

FXstreet.com (Barcelona) - The Dollar is trying to pick up moments ahead of the European session opening after having dipped during early Asian session to reach a fresh 6-week low at 91.95, the pair has reached levels around 92.45, right above the 20 hour MA.

Initial resistance area could be at 92.55 (Aug 31 low), and above here, 93.05 (Sept 2 high) and 93.20/30. On the downside, initial support lies at 91.95 intra-day low, and below here, next support level could lie at 91.75/80 (Jul 13/8 low) and 91.55 (Feb 17 low).

EUR/JPY has picked up during Asian session and, from fresh 6-week low at 131.00 reached on Wednesday, the Euro has returned to levels above 132.00 at the moment of writing. Initial resistance lies at 132.00/10, which is being tested at the moment, and 132.50. On the downside, support levels are 131.00 and 130.85/90.
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