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Alert - 10:00 (CET) - UsdJpy
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The Yen crosses had a fantastic week. With the stocks rebound from last sessions, the demand for high yielders came back, as the central banks cut interest rates.
That made de UsdJpy rebound from last week low at 90.91 yens, until it almost touched the psychological barrier of 100.00 yens. Despite that, the concerns about the economic global slowdown have put the stocks back in the red, creating a demand for the Japanese safe haven.
The UsdJpy is trading at 96.73, ranging from 96.36 to 99.05. The current price is under yesterday's close at 98.61. Checking the hourly graphics, the 20- and 200-day Exponential Mobile Averages (EMA) are over the 50-day EMA.
The traders are watching the supports at 90.00 (key), 87.95 (July 17th, 1995 low) and 84.97 (June 5th., 1995 high). The resistances are at 98.07 (October 23rd high), 100.00 (key) and 102.45 (last week's high).
Meanwhile, the 60-minute Relative Strenght Index (RSI) is at 34 points, rebounding from the overbought area. The average volatility per hour is 230 pips. Checking the graphics again, we see that the current price is under the 23.60% (130.80) and over the 0.00% (80.23) Fibonacci retracement lines.
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