Thursday, June 12, 2008

Forex : Japanese Yen



The Japanese Yen has been one market that I've been dead wrong on. Over the past 2 months I've been looking to buy the Yen and as you can see that was not a good idea.

The Japanese Yen continues to move lower and is now at a significant support level. What I find interesting about the Yen's sell off is that the stock market should be moving higher. Over the past year whenever the Yen traded lower, stocks would rally but we are not seeing that take place anymore.

Even though I am looking to buy the British Pound, Euro and Yen, I have no bullish buy patterns to get me into the trade. If something bullish develops and I get an entry signal to buy, I'll post it on here the day I get long.

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