USD/JPY Index: Caution.

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By Trading Central on March 24, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	107.5
Resistance2:	103.5
Resistance1:	100
Last:	98.19
Pivot:	100
Support1:	93.6
Support2:	91.6
Support3:	88.5

Pivot: 100

Our preference: Short positions below 100 with targets @ 93.6 & 91.6 in extension.

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

Comment: the pair is approaching its strong resistance, the RSI lacks upward momentum.

107.5
103.5
100
98.19 (last)
93.6
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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