ISE FX Japanese Yen: the downside prevails.

By IBTimes Staff Reporter | August 05 2010 9:20 AM

Update on supports and resistances.Resistance3 : 95Resistance2 : 92Resistance1 : 89Last Price : 85.9Pivot Point: 89Support1 : 83.55Support2 : 82.4Support3 : 79.3Pivot: 89Our preference: Short positions below 89 with targets @ 83.55 & 82.4 in extension.Alternative scenario: Above 89 look for further upside with 92 & 95 as targets.Comment: the pair is capped by a declining trend line and is challenging its support.95928985.9 (last)83.5582.479.3*USD/JPY Index: the ISE Exchange measures the strength and weakness of the US DOLLAR versus the JAPANESE YEN. For details go to www.ise.com

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