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Japanese Yen: Under Pressure
By Trading Central on July 6, 2009 | More Posts By Trading Central | Author's Website
Update on supports and resistances.
| Resistance3: | 104 |
| Resistance2: | 102.5 |
| Resistance1: | 99.65 |
| Last: | 94.76 |
| Pivot: | 99.65 |
| Support1: | 93.6 |
| Support2: | 91.6 |
| Support3: | 87.5 |
Our preference: Short positions below 99.65 with targets @ 93.6 & 91.6 in extension.
Alternative scenario: Above 99.65 look for further upside with 102.5 & 104 as targets.
Comment: the pair has struck against its bearish channel upper boundary and should reach its next support as the RSI is turning down.
104
102.5
99.65
94.76 (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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