Yen appreciates on Morgan Stanley slump

Yen appreciates on Morgan Stanley slump

  • Posted Wednesday, July 22, 2009 -
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A disappointing earnings report from Morgan Stanley is sending U.S. futures down, and Japanese Yen appreciates strongly across the board. Against dollar, pair break under 93.20 and adresses quiclky to next support zone at 92.60 area, followed by 92.10. Bearish sentiment in the pair remains strong, so upside corrections will remain limited unless some shocking news turn futures up. Consider resistances at 93.50 and 93.90/94.10 area.

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