Fri, May 2 2008, 15:30 GMT
by Tatsuya Kawanishi
The USD/JPY daily chart shows a good uptrend line after hitting at 95.71. The pair touches the upper band of bollinger bands. Further, CCI is getting close to the overboguht conditon. Thus, it may not be a good idea to go for long now. It would be better to wait the pair pullback to the uptrend line and test it.
Bullish momentum is not likely end soon. If we keep seeing bullish momentum and further upward pressure emerges , 107.00 region would be a good target

Published on Fri, May 2 2008, 15:31 GMT
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