Lingering political fears, Japanese economic downgrades and somewhat disappointing Chinese economic data overnight leave the Yen in a conflicted status. Some might suggest that the hope for additional Chinesestimulus favors a near term slide in the yen, especially if global Ebola fears dissipate and QE action from Europehelps to improve overall economic psychology. The Yen appears to trending downward when overall global viewsare tracking back toward normalcy.
Technical Outlook: The daily stochastics gave a bearish indicator with a crossover down.Momentum studies trending lower from overbought levels is a bearish indicator and would tend to reinforce lowerprice action. The close above the 9-day moving average is a positive short-term indicator for trend. The market tiltis slightly negative with the close under the pivot. The next downside target is now at 92.98. The next area ofresistance is around 93.88 and 94.05, while 1st support hits today at 93.35 and below there at 92.98.