Intraday Market Thoughts

Archived IMT (2010.06.03)

by Ashraf Laidi
Jun 3, 2010 8:35

USDJPY WEEKLY CHART shows USDJPY may lag behind behind other yen crosses because USD is underperforming other currencies during the current bounce in risk appetite. The break of the GREEN TRIANGLE triggers an extension into the RED CHANNEL, which suggests a possible 92.85-90, before 93.60. Weekly chart is positioned for further gains towards 94.50s, especially if the positive stochastics crossover (blue circle) pivots to the upside.


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