Futures and Options Serving Intelligent Investors
Technical lines from top to bottom
We begin with resistance at the round number of 104. This was a key line in May 2008.
102.50 was an important resistance line in late May.
101.44 was the post-crisis high seen in April 2009, and has not been tested since mid-July.
100.85 this line held intact as the pair pushed into 100-territory this week.
The significant 100 line has seen action in September and continues to provide resistance.
98.90 was briefly breached as the yen climbed higher, but remained intact at the end of the week.
97.80 is next. This line was quite busy in June and in late July and was breached last week as the pair dropped sharply before bouncing higher.
96.71 continues to provide strong support. This is followed by the round number of 95, a psychologically significant line.
The final support level for now is 93.79. This line marked the low point of a rally by USD/JPY which started in mid-June and saw the pair climb to the mid-101 range in July.
