Thursday, March 26, 2009

USDJPY testing the trendline Resistance at 98.40/50

  My first assumption from the start of the week was Selling the USDJPY ahead of the Trendline Resistance.

However the Hourly charts didn't tip that strategy so I covered.

Right now we see a test to break through the 98.40-50 level. I confirmed break has an easily defined Target at the 200-day MA at 99.50.

The 21-day MA is providing an immediate Support -- while the Rising 55-day MA is showing the trend ddirection clearly.

No comments:

Post a Comment