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Alert - 10:40 (CET) - UsdJpy is challenging psychological support of 100 Yen per Dollar
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The UsdJpy is trading at 100.43, ranging from 99.61 to 101.70. The current price is under yesterday's close at 101.47. Checking the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are under the 200-day EMA.
The traders are watching the resistances at 105.15 (October 6th high), 108.02 (September 19th high) and 110.67 (August 15th high). On the other hand, they're keeping an eye on the supports at 100.00 (key), 98.46 (March 20th low) and 95.75 (March 17th low).
Due to the worsening of the financial crisis in the UK, the investors are seeking the Yen as a safe haven.this way, the Japanese currency is accumulating 4.81% this week against the Dollar.
Meanwhile, the 60-minute Relative Strenght Index (RSI) is at 32 points, near the oversold area. The volatility per hour is 280 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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