Forex | Forex | Forex: USD/JPY's rejection from 95.85 continues to 95.10 (31/07/2009 15:02:00)

Forex: USD/JPY's rejection from 95.85 continues to 95.10

Fxstreet.com (Barcelona) – USD/JPY has fallen around 75 pips from 98.85 to post intra-day low at 95.10 after breaking 95.20 level (MA55 hourly chart). Currently the pair is trading around 95.10/20, 0.40 below today's opening price action.

Valeria Bednarik, Fxstreet.com collaborator, comments: “Pair lost bullish momentum and quickly turned to the downside, after failing to break above yesterday’s high of 95.88. Above that high, immediate resistance comes around 96.15, followed by 96.55, roof of the daily descendant channel, not seen at this point. Under 95.00 chances of further rises dilute thus 94.70 should hold.”

Bednarik provides us with her levels: “Support levels: 95.20 95.00 94.70. Resistance levels: 95.70 96.10 96.60.”

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