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USD/JPY Breaking trendline

Posted on September 22, 2009 at 1:45 in Intraday Techs by César B. Leiceaga

Yen strength is predominant during this morning’s european opening and dollar weakness is bound to continue if  signals like this one persist.

The usd/jpy has recently broken through an important trendline support area at 91,60 (38,20% Fib) and could be looking foward to test 91,00 area (61,80% Fib) during today’s session.

RSI on 15 minute chart entering oversold zone.

Usd/Jpy 15 minutes chart:

César B.Leiceaga

Tags: usd, usdjpy, usdjpy analysis, usdjpy intraday, yen

2 Responses to “USD/JPY Breaking trendline”

  1. on 22 Sep 2009 at 5:45 am1A-SOLTANI

    dear cesar
    hello
    my forcast about eur was correct and we have final move to main res 1.4840. so i think correction in jpy is not complete and we have final upmove to 93.30.

    best regard

  2. on 22 Sep 2009 at 6:08 am2César B. Leiceaga

    Dear A-SOLTANI,

    You were totally right, my pullback theory on EUR/USD has not been completed. Meanwhile the usd/jpy is holding onto the 50SMA on the 4 hour, let’s see if 91,00 area holds for further gains in this pair.

    Regards.

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