USD/JPY Index: Further Advance.

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USD/JPY Index: Further Advance.

By Trading Central on March 5, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	107.5
Resistance2:	103.5
Resistance1:	100
Last:	98.75
Pivot:	94.5
Support1:	94.5
Support2:	91.6
Support3:	88.5

Pivot: 94.5

Our preference: Long positions above 94.5 with targets @ 100 & 103.5 in extension.

Alternative scenario: Below 94.5 look for further downside with 91.6 & 88.5 as targets.

Comment: the RSI is still bullish and does not show any reversal sign, the pair remains on the upside.

107.5
103.5
100
98.75 (last)
94.5
91.6
88.5

*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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