Posted by: Babu Suresh | February 26, 2009

Forex USDJPY 26th Feb.09

Forex_USDJPYI would exercise caution at these levels as it is quite obvious the rise is accompanied with very low strength. If the momentum continues, chances are high to test 100.18.

Although Japanese won’t like to see their currency strengthening, for their entire economy solely survives on exports, at times technicals cannot be defied.

I would expect 96.20 to test in the coming days.

I regret last month I could not post my recommendation on USDJPY to public at 88.34 since I was not ready for forex blogging.


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