Forex | Forex | USD/JPY testing 92.60 resistance (13/07/2009 12:50:00)

USD/JPY testing 92.60 resistance

FXstreet.com (Buenos Aires) – Continue rise in stocks and futures also support falling yen, and USD/JPY quickly approach to 92.60 resistance level that’s at the time is holding the upside. Hourly charts show momentum indicator cutting the 100 line, while price is above 20 SMA now around 92.38. Hourly candle opening above actual 92.45 could signal more bullish bias for the pair.

Pair could gain above mentioned resistance level of 92.60, and extend rally to the 93.00 zone. Failure above mentioned resistance could send the pair back to the 92.20 zone, and under 91.70 multi-month low.

EUR/JPY also regain the upside and fights around 129.00. Next resistances lie at 129.45 and key 130.00 zone. Supports for the next hours lie at 128.56, 128.00 low and 127.40/60 congestion zone.

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