Friday, February 12, 2010

USDJPY looking to break the tight range

USDJPY is being traded in a tight, sideways trend and it seems that it is approaching a point where it is ready to break to a side and form a trend.

The first focus level is at 90.40 and break of this will take USDJPY towards 93.00 level but it seems that it might not be able to do so. And also we might see some aggressive traders selling for prices above 90.00 level.

On the lower side 89.75 is an important level and USDJPY should break below this level to continue long term selling trend and once USDJPY breaks below that level, the next target can be seen around 88.60


No comments:

Post a Comment