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Japanese Yen: The Downside Prevails 21/09/2010
Written by article default Tuesday, 21 September 2010 13:57
Update on supports and resistances.
Pivot: 87.5
Our preference: Short positions below 87.5 with targets @ 82.4 & 79.3 in extension.
Alternative scenario: Above 87.5 look for further upside with 89 & 92 as targets.
Comment: the pair has rebounded on its support but stands below its declining trend line.
92
89
87.5
85.4 (last)
82.4
79.3
76.5
*USD/YEN Index: the ISE Exchange measures the strength and weakness of the US DOLLAR versus the JAPANESE YEN.