Usd/jpy Approaches Break Point

The pair continues to fall in early trading, heading towards the 95.60 support level. A break of that level could trigger further selling.

A move below 95.60 will likely encounter support at 95.30. A move beyond could occur, but is unlikely as a further fall would exceed the pairs daily average range. Little support exists beyond this point though.

Upside resistance is at 96.30 and would test 96.50 if exceeded. A continued move above will hit resistance at the 96.85 area and 97.00.

By: forexpros

Article Directory: http://www.articledashboard.com