Resistance 3: 104.30
Resistance 2: 104.00/10
Resistance 1: 103.80
Latest New York: 103.43
Support 1: 103.10
Support 2: 102.80
Support 3: 102.50
Drop under the 103.00 area still labored as conditions are thin. Thursday rally seemed to lack enthusiasm. Day-traders can sell this rally and cover around the 103.10 area.
Traders note that the market is still trading technically and expect stops to be run in both directions near-term; expect some volatility. Day traders may get a lot of opportunity as the rate will likely cover a lot of the same ground twice on the hourly time-frame.
Need a close back under the 50 bar MA soon; REALLY making us wait for it.
Close under 103.00 likely to attract more selling; Tonight Tokyo CPI; no factor.
Analysis by: Forexpros.com written by Jason Alan Jankovsky
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