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Sunday, 08 November 2009 GMT
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US Dollar / Yen Breaks Lows, Offers Sell Entry
Thursday, 04 December 2008 23:16:03 GMT
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- Friday, 09 October 2009 01:07:54 GMT Dollar: Something Has to Give
- Thursday, 08 October 2009 21:06:02 GMT EURJPY Looks Constructive
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- Monday, 05 October 2009 21:08:32 GMT Daily Pivot Points
The Japanese Yen continued to rise today against the US Dollar, breaking and closing below key support at the low from late October. This was the last near-term hurdle to bearish momentum after the pair surpassed the supporting trend line at the bottom of a triangle formation over the past 6 weeks. We will now enter short, looking for the pair to test all time lows last seen in 1995.
USD/JPY Strategy
1. Short USDJPY at market between 92.00 - 92.60
2. Set stop loss at 96.45.
3. Set profit target at 84.25.
For the complete analysis of the major forex currency pairs, please see the Candlestick Weekly report.
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