(Click on the Daily Chart to enlarge it)
The Yen is definitely Bullish, with no reversal pattern in sight.
The Sep 21th´s High at 92.54 might work as a short-term resistance: the Stochastics at Overbought area and RSI away from its 21-Period Moving Average reinforces this resistance level.
But make no mistake: Prices are Bullish, and locked up in a major Bullish Channel, with its top at around 94.00.
My strategy is to SELL SHORT ONLY if prices show any major Bearish Candlestick pattern at this short-term top 92.54, with a very tight 15-pip STOP and LIMIT at 91.72.
It won´t be an easy task to find support to enter LONG, which is my ultimate strategy for this week.
Any Bullish Candlestick pattern at the support levels 91.50, 91.20 or 90.60 triggers my LONG. I will add lots at break of 92.54, all aiming the 94.00 as LIMIT.
