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USD/JPY Index: Rebound Expected.
By Trading Central on April 7, 2009 | More Posts By Trading Central | Author's Website
Update on supports and resistances.
| Resistance3: | 110.5 |
| Resistance2: | 107.5 |
| Resistance1: | 103.5 |
| Last: | 100.24 |
| Pivot: | 96.5 |
| Support1: | 96.5 |
| Support2: | 93.6 |
| Support3: | 91.6 |
Our preference: Long positions above 96.5 with targets @ 103.5 & 107.5 in extension.
Alternative scenario: Below 96.5 look for further downside with 93.6 & 91.6 as targets.
Comment: the pair should rebound on its new support (former resistance), the RSI is on the upside.
110.5
107.5
103.5
100.24 (last)
96.5
93.6
91.6
*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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