Dollar May Fall to 87 Yen: Techncial Analysis

Technical Analysis conducted by Tokai Tokyo Securities Co. suggests the US dollar could fall to an 11-month low of 87 yen to the dollar. The dollar continues to show weakness, remaining below its 5-, 20-, and 90-day moving averages.

“The dollar’s upward moves are capped,” Nihei said yesterday. “Plus, the 5-day moving average is heading downward. So are the 20- and 90-day moving averages.”

Bloomberg

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