Forex: USD/JPY tests 95.00

Fri, Jun 26 2009, 16:38 GMT
http://www.fxstreet.com

FXstreet.com (Barcelona) - USD/JPY has fallen 0.70% so far today from 95.77 opening price to test yesterday's lows at 95.00, currently the pair is trading around 95.00/10 after falling 40 pips in the last hour.

According to Valeria Bednarik, FXstreet.com collaborator, Bearish pressure in the daily remains intact in the USD/JPY: "With hourly indicators a bit exhausted to the downside, pair can attempt a shy upside correction before next down leg to the 94.80 zone. Bigger time frames remain clearly bearish so expect some downside acceleration."