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Short Term Analysis
USDJPY formed a short term cycle top at 101.03
Thu, Mar 27 2008, 02:00 GMT
by Franco Shao
USDJPY formed a short term cycle top at 101.03. Deeper decline to 97.00 area to reach the next cycle bottom on 4-hour chart is still possible in a couple of days. Key resistance is at 101.03, a break above this level will signal the resumption of the up trend, and then further rise to test previous high resistance at 103.59 could be seen.
Published on Thu, Mar 27 2008, 02:02 GMT
Archive
- USDJPY's cycle bottom is nearing
Published On Fri, May 9 2008, 01:38 GMT - GBPUSD broke below 1.9599 key support
Published On Thu, May 8 2008, 02:38 GMT - USDJPY rebounds from 104.02
Published On Wed, May 7 2008, 00:30 GMT - EURUSD rebounded from 1.5360
Published On Tue, May 6 2008, 02:09 GMT - USDCAD formed a short term cycle bottom at 1.0036
Published On Fri, May 2 2008, 02:05 GMT
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Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management.
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
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