Resistance 3: Y99.60
Resistance 2: Y99.00
Resistance 1: Y98.20
Current price: Y93.69
Support 1: Y92.80
Support 2: Y90.00
Support 3: Y88.00
Comments: The
yen climbed to a 13-year high against the dollar as the risk of a
global recession prompted investors to slash carry trades, in which
they fund purchases of higher-yielding assets with Japanese currency.
The yen rose 6.2% this week against the dollar, the biggest gain since
October 1998. Sustained
breach of Y95.75 confirm long term downtrend has resumed, extend falls
to option
barriers around Y95.00. Resistance is at 9 Oct, 19 March lows Y98.00.
The rate plummets 200-points in dire liquidity to Y92.80 before spiking
back to
Y93.80 at time of writing. Option barrier at Y90.00 now coming into
focus.