Forex | Forex | Yen firmly approaching 91.70 (03/09/2009 02:30:00)

Yen firmly approaching 91.70

FXstreet.com (Buenos Aires) – USD/JPY Current Price: 92.12. Bearish trend remains intact in the pair with price slowly but firmly approaching to the key 91.70 midterm support. If that level gives up, expect the pair to resume downtrend in the long term.

“Hourly indicators also remain bearish, yet bigger time frames look a bit exhausted at this point, suggesting some upside correction before next leg down,” said Valeria Bednarik, collaborator at FXstreet.com.

Support levels: 91.70 91.40 91.10. Resistance levels: 92.30 92.50 93.00.
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