USD/JPY Technical Outlook15/7/2009

USD/JPY movement is restricted in a narrow range between support level at 93.31 and resistance level at 93.98. While it's currently around 93.90 The highest level was at 93.96 and the lowest level was at 93.26 today. In the other hand, momentum oscillator shows long buy saturation. However, it's expected to have a retracment move today to level 38.2% (Fibonacci line) at 93.01.