USDJPY is in downtrend from 90.40

Franco Shao from ForexCycle.com at 10/11/09

 

USDJPY is in downtrend from 90.40. As long as resistance of the upper border of the falling price channel holds, we’d expected downtrend to continue and another fall could be seen to 87.50 zone. However, above the channel resistance will suggest lengthier consolidation of downtrend from 97.78 is underway, then the following rebound will take price to 89.50-90.00 area.