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JPY Under Pressure by Trading Central
Written by article default Friday, 18 September 2009 06:46
Update on supports and resistances.
| Resistance3: | 98 |
| Resistance2: | 96 |
| Resistance1: | 94 |
| Last: | 91.27 |
| Pivot: | 94 |
| Support1: | 90 |
| Support2: | 87 |
| Support3: | 85 |
Our preference: Short positions below 94 with targets @ 90 & 87 in extension.
Alternative scenario: Above 94 look for further upside with 96 & 98 as targets.
Comment: the pair is on the downside and is challenging its support, the RSI is mixed to bearish.
98
96
94
91.27 (last)
90
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