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.

4 comments:

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...

Kevin

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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