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 27, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	107.5
Resistance2:	105
Resistance1:	101.3
Last:	97.26
Pivot:	101.3
Support1:	93.6
Support2:	91.6
Support3:	87.5

Pivot: 101.3

Our preference: Short positions below 101.3 with targets @ 93.6 & 91.6 in extension.

Alternative scenario: Above 101.3 look for further upside with 105 & 107.5 as targets.

Comment: the RSI is bearish and called for further decline, the pair should reach its next support.

107.5
105
101.3
97.26 (last)
93.6
91.6
87.5

*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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