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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 |
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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