Nov 11, 2010

FX Path

FX Path

USD/JPY - Pushing Towards Upside

Posted: 11 Nov 2010 09:28 AM PST

Price action on USD/JPY (a 4-hour chart of which is shown) as of Thursday (11/11/2010) has broken out tentatively above a key downtrend resistance line extending from the May highs and has approached key resistance around the 83.00 price region, establishing a fresh one-month high. For more technical analysis on this currency pair, please click here for Thursday’s (11/11/2010) 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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