Japanese Yen: Under Pressure

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Japanese Yen: Under Pressure

By Trading Central on October 28, 2009 | More Posts By Trading Central | Author's Website

Update on supports and resistances.

Resistance3:	98
Resistance2:	96
Resistance1:	92.4
Last:	91.13
Pivot:	92.4
Support1:	89.5
Support2:	87
Support3:	85

Pivot: 92.4

Our preference: Short positions below 92.4 with targets @ 89.5 & 87 in extension.

Alternative scenario: Above 92.4 look for further upside with 96 & 98 as targets.

Comment: the pair has struck against its resistance and should face a weakness as the RSI is turning down.

98
96
92.4
91.13 (last)
89.5
87
85

*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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