Saturday, April 17, 2010

USD/JPY: Bearish Below 91.90 Down to 88.60?

(Click on the Daily chart to enlarge it)

Prices´ lack of strenght to remain above the resistance level 93.77 possibly shows that Yen´s Bullish might be losing its momentum.
My strategy is to enter SHORT at the break of 91.90 with STOP at 92.25 and LIMIT at 90.20.
I´ll also look to enter SHORT at resistance 92.50 with a tight STOP (92.80) and the same LIMITS as above.