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USD/JPY

Thu, Nov 20 2008, 15:50 GMT
by Lea Peters

FXUniversity



USD/JPY

USD/JPY : what is here to say? In times of turmoil yen loves misery. Translation : it is going to continue growing stronger for as long as equities slide , effected by the global economic slow-down. Technicians will continue shorting with accelerating momentum below 94.50 looking for a 100pips on the downside first, eventually looking to take out recently established lows @ .91, projecting next leg down to .89.

To bring the bulls into play, daily close above .95.25 is needed to push momentum further up to 99.50 first.


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