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

By IBTimes Staff Reporter | February 16 2010 4:07 AM

The bullish slant is currently broken. We will wait that the close of the current candlestick below the slant to see the sell signal confirmed. We will then advise to trade only short positions as far as 90.34 is resistance with 89.28 as objective. However, if the break out is not validated, we will stay neutral, waiting for either a break out of the slant to enter short or either a break out of 90.34 to enter long.

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