Tuesday September 2, 2008 - 09:59:29 GMT
Share This Story
Forex Hound - www.forexhound.com
USDJPY Short Term Bear
USDJPY broke under the 108.50 support area and in a swift move yesterday got as low as 107.60 before jumping back up on news coming out of Japan and retesting the now resistance 108.50. We expect this resistance to hold and push the pair lower towards yesterday's lows aiming at the lower suppport trendline connecting March and July swing lows.
PS. The setup we spotted yesterday on USDCHF is still visible on the 1 hour charts, tight stops above current highs will provide a good risk:reward ratio.
Forex Trading News
Daily Forex Market News
Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."