Tag Archives: bullish trend is loosing steam
Usd/Jpy Technical Analysis for 23th February 2009
Posted on23. Feb, 2009 by admin.
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The 4 hour chart is showing that the pair’s bullish momentum is reversing itself, and has turned to be bearish. The bearish cross on the daily Slow Stochastic strengthens the pair’s downtrend, which might see a valid target price at 92.49.
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Usd/Jpy Technical Analysis for 6th January 2009
Posted on06. Jan, 2009 by admin.
The bullish trend is loosing its steam and the pair seems to consolidate around the 93.00 level. The daily chart’s RSI is already floating in an overbought territory suggesting that a recent upwards trend is loosing steam and a bearish correction is impending. Going short with tight stops appears to be preferable strategy.
