USD/JPY: comments.
2010-03-11 11:25 |
After declining from Wednesday’s maximum of 90.80 dollar was supported at the day’s minimum of 90.20 during Asian session. Then USD/JPY began rising and managed to overcome 90.50/55 resistance level to reach the last observed maximum at 0.9065.
In case the rate goes above 90.55, resistance levels will be at 90.80 (March 10 maximum) and 91.00 (February 22 minimum). In case of decline, support levels will be at 90.15/20 (March 8 minimum/session minimum), 89.85 (March 10 low) and 89.65 (March 9 low).
We expect the pair to go up above 91.51 causing bullish trend. In the long term yen will remain low as Japanese public debt is very high, demographics seems to be weak, while export markets are tough.
Chart. H1 USD/JPY
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