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Trend of the Day - USD/JPY

By Gregory McLeod,
10 August 2009 11:37 GMT

Though the Daily trend is down, USD/JPY continues to march against the trend toward its resistance down trend line. The 97.00 area should act as resistance to turn this pair back around. Wait for either a break of the white trend line and or a bearish candlestick reversal formation at resistance before shorting this one. Look for a 1:2 risk reward.
 

toftd 7 31 09

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10 August 2009 11:37 GMT