Euro & Yen

Above is the Yen chart and as you can see we have a tweezer formed and currently what looks like a formation of a spinning top (but wait until the hour is up and check that again). The DTosc also looks overbought and we are also hitting a the top end of the trend line (not shown on chart above but check that on weekly chart drawing a line down fron the top of Feb 1st 2002 and the top of Dec 9th 2005). In addition to that we are at a fiib reversal.
The analysis shows shorting opportunity on Yen but to be sure maybe waiting for the DTosc indicator crossover (34) to occur would be safer bet but you decide. Stop shoud be couple of ticks above recent swing high providing only limited risk.

The Euro is just bobbing along without any real direction as everything is pending what President Trichet has to say tomorrow. After he has spoken, later in the day we have President Bernanke speaking so expect huge volatility tomorrow.

Stand aside (unless already in a trade) and wait for direction to take place before committing to a position.

Good luck tomorrow.