Thursday, October 30, 2008

Forex- Japanese Yen At Support



The Japaneses Yen has been the strongest currency since September when compared to the Swiss Franc, Euro and British Pound. It is clear that the Yen is in an uptrend and the way to make money in bull markets is to buy the pullbacks.

Right now the Yen is approaching its 20 day moving average which has provided support for this currency since September. I think a move above Wednesday's high would be quite bullish. A close below the 20 day moving average would negate the bullish pattern.

2 comments:

market folly said...

saw the exact same thing and picked up a little today, will pick more up if it dips closer, with a nice tight stop right below the past resistance around $100

Dian said...

Hi Kevin
I am a regular reader of your blog.
Just wanted to thannk you for helping me learn through the blog.
Thanks

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