Forex Trading: USD/JPY Makes Another Move Lower Today

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Forex Trading: USD/JPY Makes Another Move Lower Today

By Greg Michalowski on May 12, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

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USD/JPY takes another move lower as pressure on the GBP/JPY and EUR/JPY helps pressure the lead pair. The USD/JPY has been pushed lower since moving below the 100 hour moving average at the 98.85 level on Friday. The low reached today came in at the 96.55 level. There is trendline support that comes in at the 96.34. Watch this level as it should provide some support. A move lower and I would expect further selling in the pair.

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