Japanese Yen: Rebound Expected

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Japanese Yen: Rebound Expected

By Trading Central on April 13, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	110.5
Resistance2:	107.5
Resistance1:	103.5
Last:	100.31
Pivot:	96.5
Support1:	96.5
Support2:	93.6
Support3:	91.6

Pivot: 96.5

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 is rebounding on its new support (former resistance), the RSI is well directed.

110.5
107.5
103.5
100.31 (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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