Japanese Yen: Capped By A Negative Trend Line

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Japanese Yen: Capped By A Negative Trend Line

By Trading Central on April 16, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	107.5
Resistance2:	105
Resistance1:	102.5
Last:	99.1
Pivot:	102.5
Support1:	96.5
Support2:	93.6
Support3:	91.6

Pivot: 102.5

Our preference: Short positions below 102.5 with targets @ 96.5 & 93.6 in extension.

Alternative scenario: Above 102.5 look for further upside with 105 & 107.5 as targets.

Comment: the pair is capped by a LT declining trend line, the RSI is badly directed.

107.5
105
102.5
99.1 (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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