USD/JPY rebounds at 89.06 and rises back to 89.30

Forex Special

The Dollar recovered ground after falling to 89.05, reaching a 5-week low against the Yen. The pair rose back to 89.30. Above, immediate resistance levels lie at 89.40/45 (session high) and 89.60. Stock in Wall Street turned positive, weakening the Yen in the last hours. 

“Continues to trend lower off 91.47, 21 June key lower top, with scope now seen for full retracement towards 88.95 swing low. An anticipated break will trigger a near-term extension to 87.96, 2010 low”, Slobodan Drvenica, analyst at Windsor Brokers Ltd said. 

• USD/JPY

USD/JPY (Jun 28 at 17:58 GMT)

89.22/26 (-0.07%)

H 89.475 L 89.06

S3	S2	S1	R1	R2	R3
88.7192	88.9421	89.1650	89.2850	89.5082	89.7314

[?]Trend Index	[?]OB/OS Index
Slightly Bullish	Neutral
Data updated on Jun 28 at 15:48 (15-minute timeframe)

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