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Technicals

USD/JPY - Dollar Yen, European Session - 16/05/08

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16 May 2008 @ 01:48 am EST
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104,68. USD JPY is in a consolidation after the last bullish movement. The volatility is low. ForexTrend 4H (Mataf Trend Indicator) is in a bullish configuration. The price should find a resistance below 105,50. The consolidation should continue. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
105,00 - 105,50
Supports
104,45 - 104,00

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