06.11.2008 11:30

JPY/USD techs:


Resistance 3: Y100.55

Resistance 2: Y98.75
Resistance 1: Y98.30
Current price: Y98.23
Support 1: Y96.10
Support 2: Y95.70
Support 3: Y94.60


Comments: The yen rose against the dollar as a drop in stocks encouraged investors to sell higher-yielding assets and pay back low-cost loans in Japan. The key support remains at Y96.10 (50% of the most resent rebound). and the Tenkan line at Y95.70. Initial resistance is now former support Y98.30 and the 5-day moving average and Kijun line at Y98.75.






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