Technical Analysis Daily

Daily Forex Technicals | Written by iFOREX.bg | Dec 18 08 11:35 GMT |

USD/JPY 88.47 - 18 December USD/JPY Open 87.31 High 89.23 Low 87.12 Close 87.31 After breaking the double bottom yesterday, the Dollar/Yen continued its downward movement. The currency couple made a bottom at 87.12 and closed at 87.31. Today's scenario remains bearish with targets towards 86.10, but the indicators are showing possible correction back to the 89.14 levels and then possible test of the resistance of 89.65. Today is the beginning of a two day meeting of the Bank of Japan, which will be discussed monetary policy. Technical resistance levels: 89.65 91.10 92.00 Technical support levels: 87.70 87.10 86.25 Trading range: 88.35 - 89.00 Trend: Upward Buy at 88.47 SL 88.17 TP 88.87 iFOREX.bg Forecasts and Trading Signals http://www.zifx.com