Daniel Mankani "DynamicTrader – Trend Trading Dynamics" Trading for a living, systematically profiting from longer term trends.

10Feb/12Off

USDJPY last 77.67 Judging from the recent moment…

USDJPY last 77.67. Judging from the recent moment in this pair, it has been a strong momentum filled upward movement, that has failed to provide any dips for those, who missed to get in or remain short. Now that the dollar has its focus on 77.89 key resistant area, some sort of consolidation shall prevail and there after, expect a break that has the potential to even take out 78.30. A sustained move above here, signals a potential low is in place and targets 79.52/80.23 next week.

There are reports circulating that Japan's Pension Fund (1.3T US), may consider investing in overseas assets to dampen the strength in the YEN. If so more good news for Japan and those who are long the dollar.

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