The Forex Pattern, Price & Time Report – USD JPY – Mid-Session

The USD JPY accelerated to the downside today when the two main bottoms at 94.45 and 93.84 were violated.

The USD JPY accelerated to the downside today when the two main bottoms at 94.45 and 93.84 were violated.  At first traders thought losses would be limited when 94.28 was tested but apparetnly the selling was much greater than the buying.

A break through 94.28 will set up  a further decline to the next level at 92.58.  

Traders are buying the the Japanse Yen and selling the U.S. Dollar for protection against falling equity markets.

James A. Hyerczyk has been actively involved in the futures markets since 1982. He has worked in various capacities within the futures industry from technical analyst to commodity trading advisor. Using W. D. Gann Theory as his core methodology, Mr. Hyerczyk incorporates combinations of pattern, price and time to develop his daily, weekly and monthly analysis. His firm, J.A.H. Research and Trading publishes The Forex Pattern Price Time Report... More

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