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Alert - 09:25 (CET) - UsdJpy
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The UsdJpy is trading at 98.21, ranging from 97.57 to 98.38. The current price is over yesterday's close at 97.94. Checking the hourly graphics, the 20- and 50-day Exponential Mobile Averages (EMA) are under the 200-day EMA.
The traders are watching the supports at 96.08 (October 29th low), 90.00 (key) and 87.95 (July 17th, 1995 low). As the resistance at 98.07 (October 23rd high) was broken, the traders are watching the next at 100.00 (key) and 102.45 (last week's high).
Remember that the pair is retracing from its now week high at 100.65 Yens. Again, the investors are worried about a possible global recession, which is making them go back to the Yen safe haven.
Meanwhile, the 60-minute Relative Strenght Index (RSI) is at 43 points, rebounding from the oversold area. The average volatility per hour is 200 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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