USD JPY Reversal Top Confirmed

The USD JPY is trading weaker this morning as investors are starting tobelieve that the rally in higher risk assets may not be sustainable.

Daily Chart

The USD JPY is trading weaker this morning as investors are starting to believe that the rally in higher risk assets may not be sustainable. Speculators are beginning to shift their bets toward a higher Yen on the notion that central banks from around the world are preparing to withdraw economic-stimulus funds.

Technically, the USD JPY confirmed yesterday’s closing price reversal top with a follow-through break overnight. The main range is 87.99 to 92.32. Based on this range, this currency pair is vulnerable to a break to 90.15 to 89.64. 

Daily Chart

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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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