Japanese Yen: The Downside Prevails

New York London GMT Tokyo Singapore

Japanese Yen: The Downside Prevails

By Trading Central on May 15, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	105
Resistance2:	102.5
Resistance1:	100
Last:	95.35
Pivot:	100
Support1:	93.6
Support2:	91.6
Support3:	87.5

Pivot: 100

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 has broken below its rising trend line and should face a further weakness as the RSI is bearish.

105
102.5
100
95.35 (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

Check Out These Related Posts:

If you like this article please...

Subscribe by RSS Subscribe by Email

Email This Post To A Friend

Recent News:

Bay Street Stocks Slip Slightly Again - Canadian Commentary - 1 day ago
Stocks Close Mostly Lower Amid Disappointing Quarterly Results - U.S. Commentary - 1 day ago
Bay Street Stocks Linger Slightly Below Unchanged Level - Canadian Commentary - 1 day ago
Stocks Remain Stuck In The Red In Mid-Afternoon Trading - U.S Commentary - 1 day ago
European Markets Fall, Led By Banks, Oils - European Commentary - 1 day ago

Opinions From Our Contributors

Commodities Has Gold Just Broken Out Of Its Trend Channel? The Dirty Little Secrets Of Warrants, Options & LEAPS Interesting Articles To Read The Forgotten Commodity - Rice Commodity Investing: ETFs Or Mutual Funds? John Paulson Launching A Gold Fund With $250M Of His Own Money Profit From The Falling Dollar With ETFs Wheat Playing Catch-Up As Commodities Rally Regulators And Commodity ETFs: Why They’re Evolving Why Gold Will Surge To A Record $2,000 In 2010 Read More »	Financials Ron Paul Thinks That Fed “Oversight Is Laughable” Buffett Borrows For Rail Acquisition Investment Ideas: Here Are 3 Dirt Cheap Stocks Treasury To Auction TARP Warrants Dear Reader, We Cannot Criticize Goldman Sachs. Instead, We Admire It 2010 Outlook For The US Banking Industry Get Rid Of Your General Electric Shares Tufts Endowment And Risk Taking? Regional Bank ETFs: The Bad And The Good Tim Geithner And Congress Take The Gloves Off Read More »	Exchange Traded Funds What You Should Know About Precious Metals ETFs And Taxes Main Street Vs. Wall Street: Using ETFs To Capitalize Why You Should Watch This Leisure & Entertainment ETF Biotech Investing: Spread Your Risks With ETFs Are You Going For Yield With Your ETFs? Rydex Market Timers: At It Again Is An Asset Bubble Forming In Hong Kong’s ETF? Senior Secured Floating Rate Bonds: The Best Investments To Own When Interest Rates Rise KBW Regional Banking ETF: Fundamentals Are Stinky, But The Chart Looks Great Gold ETFs - Will The Record Rally Last? Read More »
Stocks Stock Picks For Monday: Nanometrics, Melco Crown Entertainment, MetroPCS Communications And Cell Therapeutics S&P 500 Index Is Still Overvalued This Small Oil Exploration Company Is Ripe For A Takeover… Here’s How To Profit 3 Steps To Becoming A More Successful Trader The Transportation Sector: Here Are Three Investments In A Sector That Are Ready To Soar Stock Market Briefs: DR Horton, Dell, JM Smucker Nordstrom - Momentum Stock Buy Stocks To Watch On Friday Comcast-NBC Universal Deal To Change Comcast’s Business Model India Stock Market: Renewed Buying Bolsters Markets Read More »	Forex Month To Date Review Of The Market One Reason Why The US Dollar Might Rise Forex Wrap-up: A Massive Short-Covering Rally In The US Dollar May Just Be Starting Australian Dollar: Caution Canadian Dollar: Caution “Audit The Fed” Bill Moves Along USD/JPY Pushing Against The 100 Hour Moving Average At 89.11 Swiss Franc: The Downside Prevails Japanese Yen: Under Pressure British Pound: The Downside Prevails Read More »	Economy Societe Generale Tells Investors How To Prepare For Potential “Global Collapse” Obama Commits To Free Trade Agreement With South Korea, But Auto Trade Remains An Obstacle Exponential Growth, Finite World The Message Of The 2-Year US Treasury Note, Deflation And Japan Why Investors Should Look To Japan Again Bond Sentiment: Treasury Yields May Drop LA Shipping Reaches Highest Level Since Nov. 2008 Velocity Of US Money Supply At Long Last Picking Up US Government Debt: The Actual And Hidden Costs Are Rising Every Day Latest “Disastrous” US Housing Data Doesn’t Support Homebuilder Stocks Read More »