Managed forex accounts

USDJPY stays in a falling price channel on daily chart and remains in downtrend from 93.75. One more fall towards 88.50 area to reach next cycle bottom is possible next week. Resistance is at the upper border of the price channel and key resistance is located at 91.87, a break above this level will indicate that the fall from 93.75 has completed, then another rise towards 95.00-96.00 area could be expected. For long term analysis, USDJPY has formed a cycle bottom at 84.82 level on weekly chart.

Every day this week the Eur/Usd was hitting new lows and it appears we are in a straight free fall.  To answer the question when will the bleeding stop we have a couple of support areas at the 1.3823 area which was close to the close now. Other areas where we has support where we could see stalling is the 1.3400 1.3500 areas. I have identified potential support and reverse areas on the daily chart below. Daily Chart   One key point for traders to remember is to keep a watch out