Japanese Yen: Turning Up

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Japanese Yen: Turning Up

By Trading Central on June 9, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	104
Resistance2:	102.5
Resistance1:	99.65
Last:	97.69
Pivot:	93.6
Support1:	93.6
Support2:	91.6
Support3:	87.5

Pivot: 93.6

Our preference: Long positions above 93.6 with targets @ 99.65 & 102.5 in extension.

Alternative scenario: Below 93.6 look for further downside with 91.6 & 87.5 as targets.

Comment: the pair is breaking above its channel upper boundary.

104
102.5
99.65
97.69 (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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