Resistance 3: Y101.40
Resistance 2: Y100.60
Resistance 1: Y100.10
Current price: Y99.30
Support 1: Y99.20
Support 2: Y98.50
Support 3: Y97.90
Comments: Dollar-yen is trading near its session low, despite bouncing off Y99.40
earlier in the day. It retraced its route back toward the Y100.60 high
but only got as far as Y100.49 before then slipping back to Y100.00.
The bears will clearly focus on
the Y99.20/30 and Y97.90 lows. However, daily stochastic remains in
neutral territory with the 10-day momentum study risking a bullish
cross of the zero line. This warns against getting too carried away
with the current pullback and suggests profit-taking on any return to
Oct 10 low Y97.90. Hourly highs Y100.10 and
Y100.50 Tenkan line of the Ichimoku cloud likely to
cap the upside. Y101.40 and Y102.20 lie
further up.