Thursday, January 22, 2009

Japanese Yen Update

The Japanese Yen has tested the high from last month and appears to be having difficulty breaking through resistance. If resistance holds, there is a good chance that the yen will establish a double top. The double top formation will be confirmed ONLY if the low from two weeks ago is taken out.


Anonymous said...

Are you still holding to inverse S&P vs the Yen theory? Seems to be holding true. Could be a positive sign for the markets if the Yen is held here.

Anonymous said...

looks like it might have just broken support.what say you ;

Trader Dan said...

Another great post. I like how you have the patience to wait for confirmation before getting into a trade. Too many traders just get in front of a major trend, and get run over.

Frank said...


Culd you have another look at the CAD, EUR and Pound charts and see what you can devine from them. Many thanks


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