Market news
23.08.2011, 05:19

Techs on USD/JPY:

Resistance 3: Y78.20

Resistance 2: Y77.80
Resistance 1: Y77.20

Current price: Y76.77
Support 1:Y75.90              
Support 2:Y75.00
Support 3:Y74.30

Comments: Rate remains under pressure after yesterday it rocketed to Y77.20 on intervention concerns. Friday's records at Y75.90 may cap the decline as a strong support. Below target is at Y75.00 with a break lower opens the way to Y74.30 (channel line from Dec 2008). Above Y77.20 resistance comes at Y77.80 (38.2% Fibo of Y80.20 - Y75.90 decline), then - at Y78.20.

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