Forex | Forex | Forex: USD/JPY recovery finds resistance at 92.25 (02/09/2009 22:31:00)

Forex: USD/JPY recovery finds resistance at 92.25

FXstreet.com (Córdoba) – The Dollar is recovering against the Yen but still remains near 7-week lows. USD/JPY found resistance at 92.25. The pair is recovering after falling to 92.09 on Wednesday during the American session. Greenback is facing a downtrend rally. Below 92.00 the next support lies at 91.70. USD/JPY ended in negative on Wednesday for the fourth time in the last five days, accumulating a loss of two hundred pips.

The GCI Financial Team affirms: “Bank of Japan Governor will attend the Group of Twenty meeting in London this week followed by the Bank for International Settlements meeting in Basel. Democratic Party of Japan legislator Kohei Otsuka said the new DPJ government “won’t meddle” in the central bank’s monetary policy and market operations and added the new government will “respond appropriately” to excessive currency moves. “

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