Usd/Jpy short and long term view

This has been for far, my favorite pair since I started trading, as it has certain habits I could usually identify. If we take a look at pure  technical analysis, the pair is in fact, as Krishna said in his comment,moving inside a symmetric triangle, with the base  in the zone @ 100.50/101.00, where we can find a considerable number of monthly high and lows. Yet if we draw an ascendant trend line coming from the historical chart minimum @ 79.70, to past March minimum at 95.77, we have the pair in a bigger triangle, with a previous long term bearish trend, suggesting that, if the pair manages to break under this last ascendant zone, the bearish trend should continue for a good number of years. Yet, 100.50 zone seems to be the first important support to consider: I believe a confirmation under 100.00 will surely take the pair to the 96.00 zone, the base of the channel; […]

Original post by Valeria Bednarik

This entry was posted on Tuesday, October 7th, 2008 at 5:53 am and is filed under usdjpy, Long-Term Analysis, Short-Term Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.