Dollar Yen

Charts courtesy of Advanced Get. Data provided by eSignal.

Above chart might show possible further weakness on the USDJPY pair. The 60 min chart (bottom left) coul be the beginnings of a bearish flag. SHould that be the case we need to deal below the recent low of 117.

The GBPUSD found further weakness yesterday. Actually The Pound along with all the majors are currently in a range bound enviroment and some form of strong fundementals would probably correct that. We have PPI, Consumer Sentiment and Core Retail Sales as well as Bernanke talking today so maybe we might see some action this afternoon.

Hope you all have a great weekend.