Sep 21, 2010

FX Path

FX Path

USD/JPY - Turn Down From Resistance

Posted: 21 Sep 2010 08:28 AM PDT

Price action on USD/JPY (a 4-hour chart of which is shown) as of Tuesday (9/21/2010) has, for the time being, respected the confluence of resistance at: the 86.00 level and the key downtrend resistance line extending from the 2010 high hit in May. For more technical analysis on this currency pair, please click here for Tuesday’s (9/21/2010) 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.
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