USD JPY Turns Main Trend Down

The USD JPY main trend on the daily chart turned down on the daily chart when the market broke through the last swing bottom at 90.08.

The USD JPY main trend on the daily chart turned down on the daily chart when the market broke through the last swing bottom at 90.08.  In addition, a 50% price at 90.15 has been violated.  The chart now indicates that 89.64 is the next likely downside target.

The next downside target for the AUD USD is .8948.

The NZD USD is testing .7159.  A close under this is bearish.

Upside momentum could take the USD CAD to 1.0871.

The USD CHF is still in a position to test the high of the week at 1.0285.

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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