R3: 103.20

R2: 103.00

R1: 102.70/80

Current Price: 102.37

S1: 102.00

S2: 101.70/80

S3: 101.50

Rate fails to close above the 102.50 area of technical S/R suggesting that the rally higher was slippage; close back under the 102.00 handle tomorrow argues for a head fake rally as large stops are said to be resting at 101.50 area from late longs. Upside likely to meet selling pressure from Japanese exporters anywhere ahead of 103.00 handle some desks say. Rate is tracking stocks so a weak Nikkei tonight might pressure the rate. Look for weakness tomorrow ahead of NFP on Friday.

Analysis by: written by Jason Alan Jankovsky


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