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12 Feb 2013
Forex: USD/JPY recovers the mark of 94.32/33
The USD/JPY has recovered over the course of European trading Tuesday, following a prolonged period of time in negative territory. In recent moments, the pair has edged higher towards the level of 94.32/33, paring the majority of its losses.
According to the ICN.com analyst team, “The USD/JPY is now stable above Linear Regression Indicator 34 and 55 as seen on the hourly charts. The possibility of touching the 95.50 levels is valid again, whereas that level represents the long-term ascending wave target that started from 77.11.”
At the time of writing, the cross is recording a decline of -0.07% Tuesday and the ICN.com analyst team points to supportive measures at 93.65, followed by 93.30, and finally 93.05. Conversely, the USD/JPY will meet calculated resistance at 94.85, followed by the 95.00 barrier, and 95.50.
According to the ICN.com analyst team, “The USD/JPY is now stable above Linear Regression Indicator 34 and 55 as seen on the hourly charts. The possibility of touching the 95.50 levels is valid again, whereas that level represents the long-term ascending wave target that started from 77.11.”
At the time of writing, the cross is recording a decline of -0.07% Tuesday and the ICN.com analyst team points to supportive measures at 93.65, followed by 93.30, and finally 93.05. Conversely, the USD/JPY will meet calculated resistance at 94.85, followed by the 95.00 barrier, and 95.50.