Posted by: Babu Suresh | March 19, 2009

Forex USDJPY-19-03-09

USDJPY-1H-4H-ChartsUSDJPY-1H-4H-19-03-09

Although I don’t trade this pair very often I follow this pair for giving my advice to some institutions and also to asses my usual pair – GBPJPY’s direction.

Please refer my 26th Feb.09 post, where I had clearly mentioned 100.18 was an important resistance, failing to break it, it would test 96.20. Although it did not happen the very next day, 100 level did never come in the intervening period.

On 6th of March, it touched a low of 96.93 and again on 12th March, it clearly breached momentarily my support 96.20 to touch 95.66. Nevertheless, it decisively broke my support yesterday, i.e. 18th March. Chances are very high to test 93.38 & 91.28.

Healthy And Wealthy Trading

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