Tuesday, February 9, 2010

Commerzbank maintains downward forecast for the dollar / yen

After falling to a 6-week low at 88.50 pair dollar / yen consolidated above the level of 89.00, and even attempted to develop the upward movement. However, Commerzbank currency analysts believe that further attempts to increase a pair of obstacles encountered in the vicinity of 90.22/30, and while the dollar / yen remain below resistance at the 91.30 level, the proposal will dominate the demand. The bank continues to hold a negative prognosis for the pair and expect to reduce the dollar / yen to the 88.25/00 area, which is 61.8% correction and at least October 2009. From these levels, according to currency analysts bank permanently. At the moment pair dollar / yen is trading at around 89.50.

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