USD JPY May be Headed to 92.88

Sideways-to-lower equity markets should continue to provide support forUSD JPY as Japanese investors pull money out of U.S. stock markets.

Sideways-to-lower equity markets should continue to provide support for USD JPY as Japanese investors pull money out of U.S. stock markets.

This mornng’s breakout over 91.32 confirmed the uptrend while at the same time establishing a higher bottom at 90.08.  Based on the main range of 97.78 to 87.99, look for a possible acceleration to the retracement zone at 92.88 to 94.04 over the short-run.

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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