Excerpt from: Forex Forecast
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| June 23, 2009 | | Forex trading with U.S. dollar and Japanese yen | The USD/JPY forex forecast looks to be heading lower for the future. Weakness in the U.S. dollar against the Japanese yen in currency trading is becoming evident. Concerns about the U.S. dollar remain, as do concerns about the global economy. Recovery is expected to be slow, and that means that the cautious are favoring the Japanese yen.
Action Forex does have a look at some of the technical analysis associated with the USD/JPY forex forecast:
A clearance of the 94.45 will leave the pair aiming at the 93.89 level,
its May 22'09 low with a clean violation of that level calling for the
resumption of its declines initiated at the 101.43 level, its 2009
high. Its daily stochastics is bearish and pointing lower suggesting
further downside weakness.
| Topic Tags: currency trading, forex forecast, forex trading, forex trading dollar, Japanese yen, U.S. dollar, USD/JPY | |
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