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Chart of a day: Yen-dollar support faces test

Following a rate-setting assembly and examination of financial process and after Tokyo markets sealed on Wednesday, a Bank of Japan announced a decisions. Unable to conflict since of a Autumnal Equinox holidays on Thursday and Friday, we will have to see how internal firms and investors take a news on Monday. The foreign-exchange marketplace continued trade regardless and a outcome appears to be that a pivotal support during 100 yen per US dollar will be severely tested. Not usually is it a large psychological level, though also a median indicate between a 2012 low of 75 yen and final year’s high of 125 yen. The right-angled triangle converging and a resolutely bearish 50- and 200-day relocating averages advise a mangle lower.

Nicole Elliott is a technical analyst