Forex

 At the auctions on Wednesday on August, 20th bulls once again did not manage to break level of resistance 110.20/40. Already in second half of environment the American dollar has started to decrease in relation to the Japanese yen and in the beginning of the American session support level 109.75 which has not been break from the first has been tested. Repeated testing of the given level could be observed today with the beginning of the auctions in Asia in which result bears managed to pass it that has led to strengthening of descending movement and already by the Asian session end the current rate has reached support level 109.50. With the beginning of the auctions in Europe it was possible to observe breakdown support level 109.50, and as a short-term lines of support ascending trading corridor that has led to considerable strengthening of the bear moods in the forex market on given currency pair. In a current of several hours the American dollar has decreased in relation to the Japanese yen more than on 100 points and has reached a fortnight minimum located on level 108.60.

 At present in the market reference points on sales on given currency pair remain, but new strong movement down to a weekend hardly should be expected. The possible purposes of bears are located on 108.40/00. As it is impossible to exclude corrections, after so considerable decrease in dollar/yen, therefore in the circumstances it is better to refrain from new orders opening before situation clearing.

 Resistance levels: 108.80, 109.00, 109.25, 109.50, 109.75 110.00/10

 Current price: 108.76

 Support levels: 108.60, 108.40, 108.20, 108.00, 107.80, 107.40, 107.00