Friday, December 22, 2006

Forex Update.. Japanese Yen Short



Above we have a 4 year weekly chart of the four major currencies. I placed the strongest currency ontop and the weakest on the bottom. The British Pound is clearly the strongest currency. It is the only one to breakout above the December 2004 high.
If the forex market dips, I'd look to be a buyer of the British Pound..

The Japanese yen is a different story. The Yen is clearly the weakest of the 4 major currencies. I think the Yen is going to at least test the low that was made a few months ago. I'd be looking to short rallies in the Yen.

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