Euro vs. Japanese Yen Midday Report (2009-09-18)

By IBTimes Staff Reporter | September 18 2009 8:04 AM

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Midday Report

The pair has moved mildly upwards during the previous session, supported around 133.60 once more. The daily closing above the 134.15-38.2% Fibonacci will help activate the anticipated upside action for the rest of the day, but on the condition that 132.50remains intact.

The trading range for today is among key support at 130.70 and key resistance now at 137.40

The general trend is to the downside as far as 141.44 remains intact with targets at 100.00 followed by 88.97 levels.

Support133.65133.00132.50131.90131.00Resistance134.60135.00135.50136.10136.70RecommendationOur morning expectation is still valid

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