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Japanese Yen: The Downside Prevails 29/09/2010
Written by article default Wednesday, 29 September 2010 10:44
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 struck against its declining trend line and remains under pressure.
92
89
87.5
83.63 (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.