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Usd/Jpy in the short term

Posted on October 21, 2008 at 14:27 in Short-Term Analysis by Valeria Bednarik

The upside of the pair seems quite limited at this time, with the zone around 101.10a strong short term resistance. The pair has also a short term descendant line trend, yet indicators seems to be exhausted to the downside in this short term charts. I will wait for next 15 or 30 minutes candle opening, and try to sell the pair, targeting the zone around 100.85. A candle opening above the trend line, will probably mean the contrary: an upside move to the zone of 101.44, also supported by indicators. Let’s see where and how next candle starts.

Tags: usdjpy

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