The greenback extended its overnight slide into the New York session as US markets returned from the long weekend. Improving global risk appetite pushed the Dow Jones, Nasdaq and S&P 500 higher by over 1% and crude oil up to just beneath the $77-per barrel level. The hawkish RBA minutes set the tone for the markets – revealing its upbeat expectations for economic growth ..... |
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| USD/JPY 91.70 - 19 February 2010 |
| Written by Forex Man |
USD/JPY 91.70 - 19 February 2010USD/JPY Open 91.92 High 91.38 Low 90.16 Close 91.76 Dollar/Yen made a significant rise on Thursday from 90.60 to 92.09, persuasively breaking the upper limit of the downward channel, formed on the 3 hour chart, and closing the day at 91.76. On the 1 hour chart the upwards channel starting on 4 February is now getting even stronger. Going above 92.09 may trigger further powerful bullish momentum towards next objective 92.88. Break bellow yesterday's bottom and nearest support at 90.60 may lead to downward correction. Quotes are currently above the 20 and above the 50 EMA, signaling for ascending pressure. The RSI is negative and declining, MACD is positive and declining, and CCI indicator is neutral and leaning downwards, giving, overall short signals. |
