Forex: USD/JPY falls from 90.00 on US disappointing consumer sentiment
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USD/JPY
FXstreet.com (Barcelona) - The psychological level at 90.00 is blocking the USDJPY from further upside after making its correction lower to 89.69 low. In case of a breach, the market may attempt at getting back to its daily high, of 90.21, and even extend gains.
At the moment, the pair is easing in reaction to the disappointing US consumer sentiment by Reuters/Michigan, that fell from 72.9 to 71.3 in January, instead of rising to 75.0.
"The uptrend here is absolutely intact and current pullback below 90.20 peak should be considered corrective in nature, preceding next wave upwards, to 91.80", wrote Deltastock.com analyst Stoyan Mihaylov, pointing to initial intraday support at 89.55.
At the moment, the pair is easing in reaction to the disappointing US consumer sentiment by Reuters/Michigan, that fell from 72.9 to 71.3 in January, instead of rising to 75.0.
"The uptrend here is absolutely intact and current pullback below 90.20 peak should be considered corrective in nature, preceding next wave upwards, to 91.80", wrote Deltastock.com analyst Stoyan Mihaylov, pointing to initial intraday support at 89.55.
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