Daily Forex Analysis ? April 20, 2011

USDJPY Analysis. USDJPY remains in downtrend from 85.51. The bounce from 82.18 is likely consolidation of downtrend. Resistance is at the upper border of the price channel on 4-hour chart, as long as the channel resistance holds, downtrend could be expected to resume, and another fall towards 81.50 is still possible after consolidation. However, a [...]

Source: http://blog.forexcycle.com/6232/daily-forex-analysis-april-20-2011/

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