» USD/JPY - Dollar Yen, European Session - 03/03/08

USD/JPY - Dollar Yen, European Session - 03/03/08

103,15. USD JPY is in an downtrend directed by 1H exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD JPY. The downtrend should continue to gather momentum. The target is expected at 101,50 (160 pips). The price should find a support above 102,75.
Resistances
103,60 - 104,15
Supports
102,90 - 102,75

Source : USD JPY

This entry was posted on Monday, March 3rd, 2008 at 6:56 and is filed under USD JPY. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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