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August 19th, 2010

When will USD/JPY shoot up?

jpyforexfan

In the past few days the USD/JPY forex pair made an unsuccessful attempt to test the 15-year bottom at 84.72. It is high time we see upward movement. I wouldn’t go long until I see some good confirmation of that happening (a daily close of above 86.50 would be good for me). Until then, I am on the sidelines watching how Skinny Dollar is faring against Mighty Yen :-)

Posted in Forex Analysis | 3 Comments »

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3 Responses to “When will USD/JPY shoot up?”

John says:
August 20, 2010 at 6:00 pm

I believe that will happen soon. Did you saw the bullish divergence on MACD on the weekly charts? We might be talking about a monster rally :)

John says:
August 20, 2010 at 6:02 pm

PS: I love that image by the way :)

jpyforexfan says:
August 21, 2010 at 7:55 am

Yeah, John, it looks like we are set for a period of strength for the US dollar. I will be looking for an entry in USD/JPY soon. Let’s deflate the sumo guy ;-)

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