FXstreet.com (Barcelona) - The Dollar rallied yesterday against the Yen reaching a week-high. Cornelius Luca, economist at Global Forex trading adverts about the limited nature of the move: Dollar/yen rallied on Wednesday to a one-week high on Wednesday and my model remains long. Well, the upside still looks limited, but I'd sell dollars only on a stop. Next resistance and support levels, according to Luca, stand as follows: Strong resistance remains at 105.60 from a 50-point pivot, which targets 105.10 and 106.10. Initial support is now at 104.50 from a 50-point pivot, which targets 104.00 and 105.00. Distant support moved up to 103.40 from a 50-point pivot, which targets 102.90 and 103.90.
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