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Japanese Yen: Under Pressure

By Trading Central on August 14, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:102.5
Resistance2:99.65
Resistance1:98
Last:94.74
Pivot:98
Support1:94
Support2:91.75
Support3:90
Pivot: 98

Our preference: Short positions below 98 with targets @ 94 & 91.75 in extension.

Alternative scenario: Above 98 look for further upside with 99.65 & 102.5 as targets.

Comment: the pair has struck against its resistance and should face a down move as the RSI is badly directed.

102.5
99.65
98
94.74 (last)
94
91.75
90

*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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