Japanese Yen: Rebound
Update on supports and resistances.
| Resistance3: | 100 |
| Resistance2: | 96 |
| Resistance1: | 93.5 |
| Last: | 90.37 |
| Pivot: | 88 |
| Support1: | 88 |
| Support2: | 86 |
| Support3: | 81.5 |
Our preference: Long positions above 88 with targets @ 93.5 & 96 in extension.
Alternative scenario: Below 88 look for further downside with 86 & 81.5 as targets.
Comment: the pair is rebounding on its support and should reach its previous high.
100
96
93.5
90.37 (last)
88
86
81.5
*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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