How about the US Dollar, today ?
Investors like selling euro-yen or pound sterling-yen. Structural yen appreciation has yet to run its course as there remains scope for investors to unwind shorts. A short position is a bet that an asset will decline. The Japanese yen will probably extend gains through to the end of the country’s fiscal year on March 31, 2010 as exporters buy the JPY to hedge revenues & money managers may bring funds home and repatriate funds from higher-yielding assets. We think the US dollar is the dominant currency for a while to come, vs euro and pound sterling too. The US dollar will remains the world's reserve currency for a while & it's probable that the U.S economy will start growing more than euro zone. In technical analysis, investors & analysts study the charts patterns and prices to forecast changes in a security, commodity, currency or stock index. Resistance is where sell orders may be clustered, while support is where there may be buy orders. See more: http://www.intermoney.org/
