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Japanese Yen: Under Pressure
By Trading Central on October 6, 2009 | More Posts By Trading Central | Author's Website
Update on supports and resistances.
| Resistance3: | 98 |
| Resistance2: | 96 |
| Resistance1: | 92.4 |
| Last: | 88.9 |
| Pivot: | 92.4 |
| Support1: | 87 |
| Support2: | 85 |
| Support3: | 82.5 |
Our preference: Short positions below 92.4 with targets @ 87 & 85 in extension.
Alternative scenario: Above 92.4 look for further upside with 96 & 98 as targets.
Comment: the RSI is badly directed, the pair remains under pressure and should reach its next support.
98
96
92.4
88.9 (last)
87
85
82.5
*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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