FXstreet.com (Barcelona) - The Dollar rallied yesterday against the yen, in a move, that, according to Nicole Elliot, senior technical analyst at Mizuho Corporate Bank, will have its top today: Allow for a cautious upside test this morning, then topping this afternoon. We continue to feel that a sustained break below 107.00 will probably set off a sudden drop to 106.00. Strastegywise, Elliot forecasts: Sell at 107.95, adding to 108.30; stop above 108.70. Add to shorts on a sustained break below 106.70 to cover ahead of 106.00.
Join the Discussion