Japanese Yen (JPY) Technical Major Currencies (2010-03-02)

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Morning Report

The pair is trading in a sideway manner,attempting to touch the pivotal resistance 89.70 in order to re-test it. Therefore, our previous expectations will prevail as we await for the bearish intraday direction; primary targetsresidearound 88.20. The short term wave requires the four-hour closing to remain below 90.25.

The trading range for today is among the key support at 88.20 and the key resistance at 90.25.

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

Morning Report Weekly ReportSupport89.0088.5088.2087.7586.90Resistance89.7090.0090.2590.8591.40RecommendationBased on the charts and explanations above our opinion is selling the pair from 89.70 target 88.20 and stop loss above 90.25, might be appropriate.

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