Forex: USD/JPY above 91.00 eyes 30-month highs
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USD/JPY
FXstreet.com (Barcelona) - More than 1 hour to go till Tokyo open, and with Australian markets closed on holidays, USDJPY opens the week above the 91 level, last at 91.07, off recent highs at 91.11. Again, Yen is weakest major currency among all by a big margin, followed by CAD, and strongest one being the Euro. The pair is up +0.19% from previous weekly close.
With not much to mention over the economic calendar for today in the region, "USDJPY has opened above 91.00 and there seems to be little point in getting in the way of this runaway train," says FXWW founder Sean Lee, adding: "The long term charts are singularly bullish and the next target is a 50% retracement level near 93.15. Previous highs near 90.20 offer the first level of support," Sean concludes.
Immediate resistance to the upside for USDJPY shows at recent session/Friday's highs 91.11/20, followed by June 21 2010 highs at 91.47, and April 19 2010 lows at 91.57. To the downside, nearest term support lies at Thursday's highs 90.70, followed by Friday's lows/Jan 21 highs at 90.30/20, and Jan 18 lows/Jan 13 highs at 89.67.
With not much to mention over the economic calendar for today in the region, "USDJPY has opened above 91.00 and there seems to be little point in getting in the way of this runaway train," says FXWW founder Sean Lee, adding: "The long term charts are singularly bullish and the next target is a 50% retracement level near 93.15. Previous highs near 90.20 offer the first level of support," Sean concludes.
Immediate resistance to the upside for USDJPY shows at recent session/Friday's highs 91.11/20, followed by June 21 2010 highs at 91.47, and April 19 2010 lows at 91.57. To the downside, nearest term support lies at Thursday's highs 90.70, followed by Friday's lows/Jan 21 highs at 90.30/20, and Jan 18 lows/Jan 13 highs at 89.67.
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