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Time to Buy USD/JPY?

Yesterday currency movement was so interesting. I noticed some large downside movement on EUR/USD. I think the bearsih signal on EUR/USD already shown since beginning of December. I also already posted it on my blog. Ok…. Let’s review USD Dollar one more.

So it’s not weird seeing a chart like this

Yesterday movement also give us some hint about USD/JPY.

This is the Weekly Chart of USD/JPY

We can see there is a Bullish Divergence from the chart, even the chart itself forming Descending Triangle pattern. But remember, USD/JPY now on position near it’s record low.

Let’s see the H4 chart of USD/JPY

H4 Chart show there is a trading range between 89.95 until 90.93 on USD/JPY. Yesterday, the trading range has been broken. The chart continue to rise until touch previous resistance at 92.03. Another break out seems a good signal to buy this currency pair

I start to trade buy position on USD/JPY since yesterday. I still wait clearer signal to enter bigger lot :p

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  1. Critique Direct
    March 26th, 2010 at 06:25 | #1

    I usually agree with your blog posts, but in this case I ought to say that I do not share your views.

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