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Japanese Yen: The Downside Prevails 07/10/2010
Written by article default Thursday, 07 October 2010 09:44
Update on supports and resistances.
Pivot: 86.3
Our preference: Short positions below 86.3 with targets @ 79.3 & 76.5 in extension.
Alternative scenario: Above 86.3 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
86.3
82.15 (last)
79.3
76.5
73.9
*USD/YEN Index: the ISE Exchange measures the strength and weakness of the US DOLLAR versus the JAPANESE YEN.