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: written by Jason Alan Jankovsky


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