USD/JPY is forming a small descendant continuation figure

15 November 2009 @ 08:27 pm EDT

FXstreet.com (Buenos Aires) - USD/JPY Current Price: 89.53. Consolidating at the lows tested past Friday, pair is forming a small descendant continuation figure, a horizontal channel with base at 89.45, first static support for the pair. With bearish signals in 4 hours charts, and well under 20 SMA in the hourly, general trend remains strongly bearish despite some signs of exhaustion in hourly momentum.

Copyright 2008 FOREXSTREET S.L, All rights reserved

E-Newsletters

We value your privacy. Your email address will not be shared.