USD/JPY analysis of the week (4h candlesticks)

By IBTimes Staff Reporter | February 05 2010 2:58 AM

A strong bearish movement occured on the parity USD/JPY, making out the price of its bullish channel. A sell signal has been given. The parity seems now to have reinstated its former bearish channel (purple lines) and the upper band is currently tested. We will now advise to trade only short positions as far as 90.34 is resistance. The break out of 89.00 will give a new sell signal.

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