USD JPY Testing Short Term Trend Lines

The USD has once again seen selling in the early Monday sessions. After a late surge on Friday which broke through a short term hourly trend line, the selling is expected to resume as the longer term downtrend is still intact.

A rise above 95.00 would indicate a short term reversal and a test of the 96.00 and 96.50 levels.

A move below 94.30 is expected, and if prices hold below this level a test of the recent swing lows at 93.80 is likely. The profit target for a break below 93.80 is 92.70.

Forex Analysis by Dr. Sivaraman at ForexPros. com. For more details about Forex Trading and Tips for decent earnings through Forex Trading, Please check forexpros. com