As the US stocks will be closed for the Thanksgiving Day, the eyes of the traders are locked onto the European markets, which showed positive figures for the fourth session in a row.
This way, and despite the uncertainties due to the terrorist attacks in Mumbai, India, the carry traders regained their appetite. Thus, the Dollar is rebounding from its intraday lows against the Yen at 95.00, hit at 06:10 (CET).
The UsdJpy is trading at 95.36, ranging from 95.00 to 95.72. The current price is under yesterday's close at 95.67. Checking the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are under the 200-day EMA.
As the support at 96.08 (October 29th low) was broken, the next levels are watched at 93.56 (November 20th low) and 90.00 (key) and 87.95 (July 17th, 1995 low). The resistances are set 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 51 points, rebounding from the overbought area. The average volatility per hour is 70 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.
|