| USD/JPY Breaks Down Posted: 15 Jul 2010 09:03 AM PDT  Price action on USD/JPY (a 4-hour chart of which is shown), as of Thursday (7/15/2010), made a substantial plunge to break down below key support at 88.00 and now once again looks to be targeting further key support in the 87.00 price region. This 87.00 level is also where price established a clear double-bottom low pattern earlier this month. For more technical analysis on this currency pair, please click here for Thursday’s (7/15/2010) 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.
* For information on my book, Essentials of Foreign Exchange Trading (Wiley), please click here.
* For information on my new book, Essentials of Technical Analysis for Financial Markets (Wiley), please click here. 
|
No comments:
Post a Comment