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Dynamic Trader Blog - Forex Chart Pattern Signals

Tuesday, December 09, 2008

Yen today gone tomorrow

Good Evening All,

Say hello to the Japanese Yen.
The weekly chart clearly shows strong support around the 90 mark and price seems to be heading back there again for a retest. Bearing in mind this is longer term, the trend is still down and most of the indicators confirm this.

On a much shorter term (60 minute chart) there may be opportunity to go long if the price follows the typical 123886 B and does a bounce up. Please confirm your confluence of events before taking any positions.

Happy Trading!