Mizuho predicts fall of the dollar and the strengthening of the yen

Mizuho expects for reducing of the the dollar / yen

In brief: The dollar will decline against the background of the strong yen. Exchange rate yen will rise at the beginning of the week.

Dollar exchange rate starts to decline. Mizuho believes in the yen. A pair dollar / yen is testing a key area of support near 87.00, and weekly closing below this level, note the currency specialists Mizuho, would be a bearish signal.

The only concern is the likelihood of intervention. As a currency strategist at the bank prefer small short position on the level of 87.10, increasing the levels of 87.50, with a stop above 88.35. In the case of 86.85 breaking the bank recommends to strengthen the position at 85.00. Currently pair dollar / yen is at around 87.10.

Ukrainian Globalist
2010-07-18 11:20, Currency news.

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