Japanese Yen: Under Pressure

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Japanese Yen: Under Pressure

By Trading Central on July 10, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	102.5
Resistance2:	99.65
Resistance1:	97.5
Last:	92.44
Pivot:	97.5
Support1:	91.6
Support2:	90
Support3:	87.5

Pivot: 97.5

Our preference: Short positions below 97.5 with targets @ 91.6 & 90 in extension.

Alternative scenario: Above 97.5 look for further upside with 99.65 & 102.5 as targets.

Comment: the pair remains within a bearish channel and is challenging its support, the RSI is badly directed.

102.5
99.65
97.5
92.44 (last)
91.6
90
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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