The Yen looks to remain in an uptrend pattern, with higher highs and higher lows consistently unfolding formost of the last 3 weeks. Bargain hunting in the Nikkei might be attracting some long interest into the Yen, whichhas managed to return to its 100 day moving average! Early today resistance is seen at the 100 day movingaverage of 99.24 and close in support moves up to 98.37. Pushed into the market we have to favor the bull track,with a possible near term targeting seen up at 100.
Technical Outlook: Daily stochastics have risen into overbought territory which will tend tosupport reversal action if it occurs. The close above the 9-day moving average is a positive short-term indicatorfor trend. The daily closing price reversal down is a negative indicator for prices. The market tilt is slightly negativewith the close under the pivot. The next upside target is 99.51. The next area of resistance is around 98.85 and99.51, while 1st support hits today at 97.95 and below there at 97.71.