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USD/JPY Finishes a Pull Back

Posted on May 19, 2009 at 18:47 in Trading Desk by Ryan O'Keefe

Dollar / Yen appears to have completed a pull back move on the consolidation that broke out last week. Today’s demand level ended up between $96.50 and $96.69 which may offer a nice level to short through a test of yesterday’s high. A short would have to be protected above $96.80 as the pattern breaks down with a close back inside the triangle. $96.00 seems to be holding as a pivot level for now.

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