04.11.2008 11:00

JPY/USD techs:

Resistance 3: Y102.35
Resistance 2: Y100.55
Resistance 1: Y99.70
Current price: Y99.07
Support 1: Y97.60
Support 2: Y96.30
Support 3: Y94.30

Comments: The yen rose against higher-yielding currencies on speculation a series of global interest-rate cuts will make it less attractive to buy overseas assets using funds from Japan. The nearest resistance is located in the field of a high of October 29 on Y99,70. Overcoming of the given level will open road to Y100,55 (low of October 17 and high of October 22) and further to Y102,35 (high of October 20). The nearest support is presented by a level of 23,6 % FIBO of growth Y90,90-Y99,70 on Y97,60. Below possible decrease to Y96,30 (38,2 %) and further to Y94,30 (61,8 %).






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