USD/JPY: Dollar Drops Below 98.00
June 15, 2009 by admin · Leave a Comment
After rejection from the 98.55 resistance level, the Dollar has dropped all the way to 97.90, breaking through intra-day support at 98.00/10.
According to Peter Rosentreich, technical analyst at ACM – Advanced Currency Markets- we might see the Dollar dropping to 97.10: “Risk aversion creeps back into markets as the dollar gains across the board and Yen outperforms the dollar. We are testing crucial support at 98.10, which would see breakout to 97.10. On the upside, resistance comes in at 98.57 with a crucial level in at 98.90, which would set the tone for further gains towards 100.00.” Read more…
