Wednesday, August 1, 2012

USD/JPY Intraday: the downside prevails


Pivot: 78.4

Our preference: Short positions below 78.4 with targets @ 78 & 77.90

Alternative scenario: Above 78.4 look for further upside with 78.65 & 78.8 as targets.

Comment: as long as 78.4 is resistance, look for choppy price action with bearish bias
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USDCHF Technical Analysis - Sell at 0.9955

USDCHF made a nice bull move from 0.9716 to 0.9990. Then USDCHF drops from over bought zone. USDCHF is trading below its 20 period MA on 4h ...