Forex latest Update :-
USD / JPY Technical Forex Analysis for Forex Traders :-
Yesterday's drop stopped with great accuracy at what we called "the most important support" 89.31 (yesterday's low was 89.34). And today, 90.20 will still be the most important resistance. If the dollar fails to break it, this pair will go back to falling, after that sharp bounce from 88.22. But, a break of 90.20 would give a chance to approach 91 since the first important resistance in these areas 90.90.
Euro / Dollar Technical Forex Analysis for Forex Traders :-
The Euro is testing at this very moment the short-term support 1.4563, after dropping hard in the last half hour. This support is the last barrier before testing Fibonacci 50% which is at 1.4509. Short
-term resistance is 1.4622, and breaking it would give another attempt to reach 1.47 (after yesterday's attempt).
If 1.4563 is broken, then the falling correction will try to reach Fibonacci 50% support at 1.4509, or Fibonacci 61.8% at 1.4430. In this case, this support in particular will become the most important support for the medium term, since breaking it would mean that this drop is more than just a correction, and that the uptrend which started at 1.4176 is already over.
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