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

By IBTimes Staff Reporter | February 10 2010 4:35 AM

89.61 seems to be broken and so we are now neutral on the parity. Indeed, the parity is clearly in a bearish trend and it is hard to advise to trade long positions. A bullish slant is giving support to the price. We could wait the break out of this slant to enter short again on the parity. The break out of 89.28 will give a new sell signal and will confrim the take up of the bearish trend.

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