Tuesday, April 28, 2009

Euro / yen may fall to 115.40

Euro could reach 10-week minimum against the yen, as support for 126.42 was holes, said Tsutomu Soma, currency dealer from Okasan Securities Co. The level of 126.42, which was marked by the expert, is a line neck shape 'head and shoulders, which in the classical graphical analysis of signals broadside trend. Mr Soma said that yesterday's closing at 126.14 marks the line of Perforation neck. Now the dealer Okasan Securities expects even greater losses of the euro against the yen. The purpose of the fall, according to his opinion, is in the area of 115.40.

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