Printer Friendly

Yen Technical Outlook.

The USDJPY has broken beneath its 2+ month head and shoulders neckline. This development is bearish and even more so in the context of long term wave structure, which suggests a new all time low (below 80). However, I want to urge caution as the pair approaches 93.50. The circled area could still be a triangle in the X wave position. With this in mind, bears may want to lighten up.

2009 Al Bawaba (Albawaba.com)

Provided by Syndigate.info an Albawaba.com company
COPYRIGHT 2009 Al Bawaba (Middle East) Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Mena Report
Article Type:Brief article
Geographic Code:9JAPA
Date:May 15, 2009
Words:85
Previous Article:Australian Dollar Technical Outlook.
Next Article:Canadian Dollar Technical Outlook.
Topics:

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters