Forex Trading: USD/JPY Testing Trendline Resistance

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Forex Trading: USD/JPY Testing Trendline Resistance

By Greg Michalowski on January 2, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

The USD/JPY is testing the trendline resistance at 91.35 level on the daily chart a break should lead to continued buying in the pair.

On the shorter term chart, the pair moved above the 100 hour moving average on Friday (at the 90.42 level) and was able to extend above the consolidative range top at the 90.98 level. This give the pair a bullish bias.

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