Tuesday, September 15, 2009

Forex: Greenback falls below 91.00 against the Yen

Tue, Sep 15 2009, 17:22 GMT

FXstreet.com (Córdoba) – The rise in U.S. markets boosted the Yen against the Dollar in the last hours. USD/JPY fell below 91.00 to 90.80, only two pips above intra-day low at 90.78. In case the pair breaks below the next support lies at 90.60. Current price at 90.92/94 is 0.05% above today’s opening price. On the upside resistance is located at 91.55 (intra-day high) and above at 91.90 and 92.10.

The FastBrokers Research Team afirms: “Despite the USD/JPY’s negative tendency, the currency pair seems to be running out of room to the downside since it has historical trading ranges nearby dating back to December 2008 and January 2009 lows. Meanwhile, investors continue to act off of the belief that the DPJ will enact economic policies supportive of a stronger Yen. However, it remains to be seen whether the BoJ will alter its monetary policy approach in any dramatic way.”

USD/JPY (Sep 16 at 05:31 GMT)

90.99/03 (-0.01%)

H 91.17 L 90.76

[?]Trend Index[?]OB/OS Index
Slightly BullishNeutral
Data updated on Sep 16 at 05:15 (15-minute timeframe)

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