| USD/JPY - Consolidation within Steep Bearish Trend Posted: 30 Jun 2010 08:59 AM PDT  Price action on USD/JPY, a 4-hour chart of which is shown, has recently been entrenched within an accelerated downtrend. Within this downtrend, after price broke down below key support in the 89.00 price region earlier this week, this currency pair has since consolidated in a slightly bullish, flag-like corrective pattern. For more technical analysis on this currency pair, please click here for Wednesday’s (6/30/2010) Chart of the Day.
James Chen, CTA, CMT * For information on my DVD set, High-Probability Trend Following in the Forex Market, please click here.
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