Reversal Top in Japanese Yen Could Trigger Break to 1.1077

Brokers

HOME / Currencies / CURRENCIES - ANALYSIS

Email this to a friend

Print HTML

Reversal Top in Japanese Yen Could Trigger Break to 1.1077

James Hyerczyk, The Pattern, Price & Time Report

Published 09/28/2009 - 3:24 p.m. EST

Rate This Article:

ABOUT THE AUTHOR

James Hyerczyk

Website:
http://patternpricetime...

Email:
Email

Daily Analysis

December Japanese Yen

The December Japanese Yen rallied early in the trading session boosted by follow-through buying from last week's bullish trading session. By the end of the day, however, buying dried up and the market closed lower for the day and well off the high.

The daily chart suggests a closing price reversal top is forming. A confrimation move to the downside is needed tomorrow, but once confirmed, look for the break to continue to 1.1077.