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Old 01-26-2009, 08:09 PM
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USDJPY Monthly Chart
Heres a look at whats going on with the monthly chart of USDJPY... Price has stalled the decline temporarily this month trying to hold onto the last long term FIB level in the 94.30 area as the crowd continues to hold short gradually pushing price lower away from the FIB level... The monthly close on Friday will most likely yield a close around current prices, then to begin February next week we'll likely see a rally up into the 91.00 - 92.00 area before a further drop... Bears look for opportunity to short in that area... Short stops can be kept above 94.62
Last edited by brad_1199; 04-08-2009 at 11:13 PM..
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