Thursday, March 02, 2006

USD and JPY Currency Pair Could Show Signs of a Larger Turn, March 2

"Lien recommended as technically strategy that USD/JPY has broken below a 2 month trend line as well as its shorter term 20-day SMA and longer term 100-day SMA. The breakdown signals a possible shift in trend, but we would need to a close below 115.00 to get the real confirmation that USD/JPY uptrend has no run its course and is essentially over. However, if the currency pair manages to close back above 117.50, then the downtrend is negated and the uptrend in USD/JPY remains intact. "
Post a Comment