Past performance is not a guarantee of future results. Please remember that technical analysis is only a tool for trading and even targeted analysis is no guarantee of profits. Forex trading carries a substantial risk of loss and only discretionary capital should be used in trading.

Forex Trading - USD/JPY Moving Averages Converge

Posted by Alex Chernomordin on Fri, 07/18/2008 - 5:12am in

Usd/Jpy

As the USD/JPY pair has regained a bid into the current range, the 50 and 100 day moving averages have converged, as the Yen has sold off and some modest dollar strength is noticeable after a long week for the USD. The pair could trade in this range until there is some more indications/speculation about the state of the US economy.

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