Monday, November 30, 2009

Mizuho: monthly closing of the dollar / yen below 87.00 will confirm the bearish trend

Pair dollar / yen fell back on Friday from a 15-year low of 84.80, however, unable to rise above the 87.00 area, which currency analyst at Mizuho attach particular importance. Bank strategists believe that if the dollar / yen will last is now below this area, where the 38% Fibonacci Retracement and 9-day moving average, a bearish pressure will increase, and close below 87.00 would be the basis for the preservation of bearish trend in the medium term. As levels of resistance bank analysts put 86.55, 87.00 and 87.45. Supported by speakers mark of 86.00, 85.20 and 85.00. At the moment pair dollar / yen is at 86.10.

No comments: