The Yen seems to be the lone benefactor of the current financial and economic threats facing the globaleconomy. The Yen looks to have the edge but gains are likely to be measured, hard fought and ultimately difficultto sustain into next week. However, until positive Chinese economic readings are seen, the PBOC provides somesupport and or the world accepts the Russian annexation of Crimea, the Yen is likely to claw out minimal gains onthe charts.
Technical Outlook: The market now above the 60-day moving average suggests the longertermtrend has turned up. Daily stochastics declining into oversold territory suggest the selling may be drying upsoon. The market’s short-term trend is negative as the close remains below the 9-day moving average. Theoutside day up is somewhat positive. Market positioning is positive with the close over the 1st swing resistance.The next downside target is 96.50. The next area of resistance is around 97.42 and 97.61, while 1st support hitstoday at 96.87 and below there at 96.50.