Resistance 3: Y104.30
Resistance 2: Y103.60
Resistance 1: Y103.20
Current price: Y101.08
Support 1: Y100.60
Support 2: Y99.20
Support 3: Y98.60
Comments: The yen rose against the dollar on speculation other central banks will follow the RBA
by suggesting they will lower rates, reducing the appeal of so- called
carry trades. Support is at Y100.60
October 17 low ahead of Y99.30. March lows of Y98.50 looks like
stronger support and the main support is back at Y97.90. Still, dollar-yen's daily stochastic is encouraging for
bulls to test the 21-day moving average and September lows at Y103.00.
If broken Y103.60 September lows to be the next
target. Further rise likely to be capped near Y104.10/30 (/50% of
entire fall from Aug high at Y110.65 to Y97.91).