Inside technicals and chart patterns by 
I’ve been watching the USD/JPY closely as the Dow and U.S. Dollar do battle because by watching which market the dolalr-yen is moving with allows me to seek which is driving the market.
For those of you who are wondering: It’s still largely the psychology of the Dow that’s the driver which means the Dow is pushing the U.S. Dollar Index around. This is important to know because of the way economic data and event will be processed by traders and investors.
The swing set up is setting up as prices are once again nearing the resistance of the 34ema Wave low.
The support that prices are currently bouncing from was the Forecast from the “Last complete pattern” which was a Head and Shoulders. If prices can reach the 34ema low and trigger the swing short, keep an eye on the Forecast support once again which is at the major psychological level of 89.50.
Both charts were created with MT4 and the Autochartist Chart Pattern plug-in.