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Technicals

USD/JPY - Dollar Yen, American Session - 23/07/08

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23 July 2008 @ 06:04 am EST
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107,77. USD JPY is in a consolidation after the last bullish movement. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD JPY. The uptrend should continue on 108,00 resistance. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
108,00 - 108,30
Supports
107,15 - 106,20

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09/08/2008
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