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USD/JPY ..... be wary

Discussion in 'Market Predictions and Reports' started by Ricex, Oct 14, 2009.

  1. Ricex

    Ricex Sergeant

    Jun 30, 2009
    Likes Received:
    Hello traders,

    this is a little warning post for those amongst you who need a helping hand, a red flashing light of a post if you will about the dollar and the yen.

    This pair are in a very thick resistance area harking back to the beginning of the year. At that time we saw record lows, the lowest since 2000. We find ourselves once again in this low zone, as I write it is at 89.40 like a slice of ham in a pivot sandwich and we haven't seen a higher high since Monday.

    So will we break this record or is it time to head north? who knows? but we are at a crossroads that is for sure and it would be only prudent to look left and right before proceeding on our way. Be careful with your decisions.

    Good trading.

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