Tuesday, November 24, 2009

Yen May Surge to 14-Year High Versus Dollar: Technical Analysis

(Bloomberg) -- The yen may surge to its strongest since 1995 against the U.S. dollar should it break “critical” resistance near 87, OzForex Ltd. said, citing trading patterns. The yen climbed to 87.13 on Jan. 21, the strongest since July 1995. A “clear break” through that level would signal more declines for the dollar, said Jim Vrondas, a manager at the online foreign-exchange dealer OzForex.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=agWN6JgUpXwc

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