The Yen remains in a pattern of lower highs and lower lows this morning and there might not be much in theway of support in the September Yen until the 97.00 level. Initial support in the September Yen is seen at 97.36and until there is a recovery back above 97.76 the trend looks to remain down.
Technical Outlook: The daily stochastics gave a bearish indicator with a crossover down.Momentum studies trending lower at mid-range should accelerate a move lower if support levels are taken out. Anegative signal for trend short-term was given on a close under the 9-bar moving average. It is a slightly negativeindicator that the close was under the swing pivot. The next downside target is 97.27. The next area of resistanceis around 97.79 and 97.94, while 1st support hits today at 97.45 and below there at 97.27.