Japanese Yen (JPY) Technical Major Currencies (2009-12-04)

  @ibtimes on December 04 2009 1:40 AM

Morning Report

The dollar versus yen continued its chainofascends which are fluctuating near support for the bullish channel that is presently organizing trades. We still see that there are more awaited bullish technical targets to be achieved and that mainly exist at 89.35. Thus, we expect the bullish direction over an intraday basis for today that essentially requires 87.55 to remain intact.

The trading range for today is among the key support at 86.55 and the key resistance at 90.55.

The general trend is to the downside as far as 102.60 remains intact with targets at 82.60.

Weekly Report Monthly ReportSupport88.0087.3586.7585.8085.35Resistance88.5589.3589.8590.4091.30RecommendationBased on the charts and explanations above our opinion is buying the pair from 88.00 target 89.35 and stop loss below 87.35, might be appropriate.

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