FX Technical Strategies
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FX Technical Strategies
Mon, Dec 15 2008, 18:41 GMT
FXUniversity

USD/JPY :
Long-term : bearish
Medium term : bearish
Short term : bearish.
Not too much action today. But the close below 90.30 would resume the downtrend. I would short to 89.50 (which is 61.8% retrasement of the rise from 88.15 to 91.93 ), with the next leg down to take out previous lows @ 88.15.
Only close above 93.00 will put bring bulls back into picture with the run up to 94.05 first
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Mon, Dec 15 2008, 22:13 GMT
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