With a tempering of global anxiety the safe haven repatriation flow toward the Yen has been reversed. While one can’t predict the US Ebola track, seeing higher global equities, positive US home sales figures later thismorning and perhaps generally supportive dialogue from the Fed’s Yellen probably facilitates the corrective slidein the Yen. Near term downside targeting in the December Yen is seen down at 93.55 and perhaps 93.22.
Technical Outlook: Rising stochastics at overbought levels warrant some caution for bulls. Apositive signal for trend short-term was given on a close over the 9-bar moving average. It is a slightly negativeindicator that the close was under the swing pivot. The next upside objective is 95.12. The next area of resistanceis around 94.56 and 95.12, while 1st support hits today at 93.70 and below there at 93.41.