Wednesday, December 30, 2009

USD/JPY Reaching Resistance Zone


Above is a 4 hour chart of the USD/JPY pair. I have drawn horizontal lines at previous resistance points from earlier in the year. The pair is currently sitting within the confines of the two lines. A clear up trend support line can also be seen. I expect the pair to fall back from the current area and break the support line. Wait for a break and pullback to the trend line to get short. For a USD/JPY Delta count that supports my analysis click here.

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