07.10.2008 11:21

USD/JPY techs:

Resistance 3: Y104.50
Resistance 2: Y103.90
Resistance 1: Y103.30
Current price: Y102.93
Support 1: Y102.60
Support 2: Y102.00
Support 3: Y100.00
Comments: The yen also declined from a six-month high versus the dollar as Australian policy makers slashed borrowing costs by a full percentage point, double the reduction forecast by economists. Asian stocks and the Australian dollar pared losses as investors bet slides in benchmark interest rates will revive confidence in higher-yielding assets. Resistance is presented by levels FIBO from falling Y106,15-Y100,20: Y103,30 (38,2 %, and also level Y103,40 is area of Sep 30,16 and July 16 lows, and area of a session high), Y103,90 (50,0 %), Y104,50 (61,8 %, also area of Friday's low). The nearest support is presented by area of May's lows on Y102,60. Below there is a chance of falling to Y102,00 and further to Y100,00/20 (Apri 10 low and yesterday's low).






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