Yen Technical Outlook

Published May 28th, 2008 - 07:23 GMT
Al Bawaba
Al Bawaba

The push through 104.68 negates the bearish structure and we are looking for a spike through 105.70 in order to complete the entire rally from 95.72.



A push through 105.72 would be wave Z from 102.57 in what is a triple combination correction (W-X-Y-X-Z).  Resistance should be strong near 107.00.  Short term support is at 104.50.