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Mizuho Corporate Bank

Technical Analysis 09 August 2010


JPY
JPY=EBS, Last Quote [Candle], Last Quote [Ichimoku 9, 26, 52, 26] Weekly
30Jul09 - 13Feb11

JPY=EBS , Last Quote, Candle Pr


15Aug10 85.40 85.55 85.31 85.51
JPY=EBS , Last Quote, Tenkan Sen 9
15Aug10 88.57 97
JPY=EBS , Last Quote, Kijun Sen 26
15Aug10 90.01
JPY=EBS , Last Quote, Senkou Span(a) 52 96
06Feb11 89.29
JPY=EBS , Last Quote, Senkou Span(b) 52
06Feb11 90.06
95
JPY=EBS , Last Quote, Chikou Span 26
21Feb10 85.51

94

93

92

91

90

89

88

87

86

85

Aug09 Sep Oct Nov Dec Jan10 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan11 Feb

Comment: The lowest weekly close since 1995, only the twelfth time it has seen a weekly close below 86.00.
Allow for a little more hesitation today at the key 85.00 level, watching and listening to what the authorities have in
mind – probably precious little serious plans, just fretting uselessly. Note that the US dollar is not oversold against
the yen and that momentum is steadily, not dramatically, bearish. Continue to expect generalised US dollar
weakness and a series of cautious downside probes against the yen and other major currencies.

Strategy: Attempt small shorts at 85.55, adding to 86.15; stop well above 87.00. First target 85.00/84.82,
then more keeping in mind the record low was 79.75 in 1995.
Chart Levels:
Support Resistance Direction of Trade
85.30 85.55
85.20 85.75
85.00* 86.19
84.82* 86.57
84.50 87.00*

Produced by London Branch - Nicole Elliott +44-20-7786-2509


The information contained in this paper is based on or derived from information generally available to the public from sources believed to be reliable. No representation or
warranty is made or implied that it is accurate or complete. Any opinions expressed in this paper are subject to change without notice. This paper has been prepared
solely for information purposes and if so decided, for private circulation and does not constitute any solicitation to buy or sell any instrument, or to engage in any trading
strategy.

Charts provided by Reuters.