Monday, August 25, 2008

YEN DECLINED

The U.S. currency traded near a seven-month high versus the yen after crude extended its biggest percentage decline in more than three years.

technical view 25.08.08
YEN R1: 110.80 S1:109.50
R2: 111.20 S2:109.20
yen chart pattern indicates the currency to be on consolidation phase .Trading range for the day is expected between 109.60-110.60 levels. Stochastic gives caution of downward movement in near term.

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