Japanese Yen (JPY), Daily Review, August 25th 2010

By IBTimes Staff Reporter | August 25 2010 6:39 AM

The Yen advanced to the strongest level since June 1995 against the Dollar as concern the global economy is slowing encouraged demand for safer assets. Trade Balance came out better than expected at 0.61T vs. 0.47T forecast. The momentum of the USD/JPY is strongly bearish, the next support on the daily chart is located at 83.50, therefore a short position is preferred. Overall, USD/JPY traded with a low of 83.59 and with a high of 85.15. No economic data expected today.

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USD/JPY-Last: 84.38

Resistance

84.40

85.40

86.0

Support

83.60

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