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Yen Technical Outlook
Thursday, 10 July 2008 14:11:08 GMT
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There are 3 waves up from 95.72 so a top may be in place at 108.57.
Wave C (what we are treating as wave C at least) from 102.58 is 61.8% of wave A (95.72-105.70). The next level of potential resistance is the 100% extension at 112.62. A cautious bearish bias is warranted against that level. Also, the 200 day SMA is acting as resistance and has since early June.
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