The USD/JPY gave up gains from last week to close at 89.915. The bearish trend is likely to continue unless resistance at 93.8 can be overcome.
However, as the US economic recovery appears on the horizon, Japan’s over borrowing say analysts, is likely to push public debt beyond repair. And, while the Yen has appreciated to the USD, this is likely to reduce Japan’s export surplus projected for next year. This may trigger the manic dollar buys of 2003-04 or to print more money to prevent deflation.
USD/JPY (Nov 02 at 04:06 GMT)
H 90.24 L 89.17
| S3 | S2 | S1 | R1 | R2 | R3 |
| 89.6545 | 89.8797 | 90.1050 | 90.3250 | 90.5508 | 90.7766 |
| [?]Trend Index | [?]OB/OS Index |
| Slightly Bullish | Neutral |
| Data updated on Nov 02 at 03:45 (15-minute timeframe) |
[ View USD/JPY Technical Studies ]
