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Japanese Yen: Capped By A Negative Trend Line
By Trading Central on May 13, 2009 | More Posts By Trading Central | Author's Website
Update on supports and resistances.
| Resistance3: | 105 |
| Resistance2: | 102.5 |
| Resistance1: | 100 |
| Last: | 96.12 |
| Pivot: | 100 |
| Support1: | 93.6 |
| Support2: | 91.6 |
| Support3: | 87.5 |
Our preference: Short positions below 100 with targets @ 93.6 & 91.6 in extension.
Alternative scenario: Above 100 look for further upside with 102.5 & 105 as targets.
Comment: the pair is on the downside and is challenging its support, the RSI is still capped by a declining trend line.
105
102.5
100
96.12 (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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