Japanese Yen: Further Advance

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Japanese Yen: Further Advance

By Trading Central on February 12, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	100
Resistance2:	96.25
Resistance1:	94.6
Last:	90.35
Pivot:	88.5
Support1:	88.5
Support2:	86
Support3:	82.5

Pivot: 88.5

Our preference: Long positions above 88.5 with targets @ 94.6 & 96.25 in extension.

Alternative scenario: Below 88.5 look for further downside with 86 & 82.5 as targets.

Comment: the pair is pulling back on its support ahead of a new up move, the RSI is supported by a rising trend line.

100
96.25
94.6
90.35 (last)
88.5
86
82.5

*USD/JPY Index: the ISE Exchange measures the strength and weakness of the US DOLLAR versus the JAPANESE YEN. For details go to www.ise.com

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