USD/JPY Index: Under Pressure.

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USD/JPY Index: Under Pressure.

By Trading Central on March 9, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	107.5
Resistance2:	103.5
Resistance1:	100
Last:	99.08
Pivot:	100
Support1:	94.5
Support2:	91.6
Support3:	88.5

Pivot: 100

Our preference: Short positions below 100 with targets @ 94.5 & 91.6 in extension.

Alternative scenario: Above 100 look for further upside with 103.5 & 107.5 as targets.

Comment: the RSI is turning down, the pair has struck against its resistance and should face a weakness.

107.5
103.5
100
99.08 (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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