Sunday, September 18, 2005

Yen next week 19/09/05

Positives:
The first area of resistance has been broken.
8EMA has crossed the 17 and 34 north.
Support was held at the 38% bolly.
The top bolly resistance is at 113.35 and price has hit and bounced off the centre bolly.
RSI has broken the 60 barrier and is heading north.
From a weekly perspective the major down TL was broken at the end of March first week in April.

Negatives:
2nd and 3rd TL resistance are yet to be broken.
Previous resistance is at 111.60.

All in all everything looks set for a north move to at least the 113 area if 111.60 can be beaten - if it holds then 109 is the first target.

// posted by Magpie @ 6:17 pm
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