| USD/JPY - Price Breakdown within Downtrend Posted: 24 Feb 2010 09:51 AM PST  Price action on USD/JPY, a daily chart of which is shown, has taken a decidedly bearish turn after having reached and respected last week the top border of a key parallel downtrend channel extending from the April high. The high that was reached on last week's turn was just above the 92.00 price region. In the process of making this bearish turn within the context of the overall downtrend, price action has made a tentative breakdown below a short-term uptrend line extending from the early February low. For more technical analysis on this currency pair, please click here for Wednesday’s (2/24/2010).
- 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. 
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