(Bloomberg) -- The dollar may rise to a 4 1/2-year
high of 125 yen next week should it sustain gains above 123.67,
said Kengo Suzuki, currency strategist at Shinko Securities Co.
in Tokyo, citing the technical analysis of its price chart.
The level of 123.67 yen is a parabolic stop and reversal
point. A rise above this price signals traders should close bets
for dollar weakness. The width between the dollar's upper and
lower Bollinger band is narrowing, suggesting the currency will
prolong its rally started July 3. Resistance at 125 is near the
U.S. currency's Dec. 6, 2002 high of 125.50.
Read more at Bloomberg Currencies News
high of 125 yen next week should it sustain gains above 123.67,
said Kengo Suzuki, currency strategist at Shinko Securities Co.
in Tokyo, citing the technical analysis of its price chart.
The level of 123.67 yen is a parabolic stop and reversal
point. A rise above this price signals traders should close bets
for dollar weakness. The width between the dollar's upper and
lower Bollinger band is narrowing, suggesting the currency will
prolong its rally started July 3. Resistance at 125 is near the
U.S. currency's Dec. 6, 2002 high of 125.50.
Read more at Bloomberg Currencies News
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