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Yen Remains Under Pressure As Solutions For Greece Emerge

Yen Remains Under Pressure As Solutions For Greece Emerge

2010-03-08 14:33:00
John Rivera, Currency Analyst
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My long USD/JPY position at the beginning of the week would get stopped out but failure at 88.25-61.8% Fibo of 84.80-93.77 led me to get back in the pair as we started to see markets price in a positive NFP release. The better than expected labor report sent the pair soaring to hot my initial target of the 100-Day SMA at 90.16. Failure at the 50-Day SMA at 90.62 led me to take profits and I would refrain from adding fresh positions until I see a break above the technical level.

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