Double Bottom in USDJPY?
I was hoping for a test of the old Gann 0/8ths line for USDJPY but it looks like we may have a bottom on the 1/8th line, which is none the less a powerful support level.
It looks like we have a potential double bottom in place, with pronounced divergence in place on the MACD and a counter-trend buy signal on a trend line violation and a Stochastic cross off it’s oversold level.
DISCLAIMER: Futures, options and Forex (off-exchange foreign currency futures and options, or “FX”) trading involves substantial risk of loss and is not suitable for every investor. The valuation of futures, options and Forex may fluctuate, and, as a result, clients may lose more than their original investment.



January 28, 2009 







No comments yet... Be the first to leave a reply!