12-2-08
0:26a GMT – USD/JPY has fallen 200 pips in the past day and over 1300 pips in the past three months. Though I expect this to slow somewhat I am looking to sell the USD/JPY with the trend, as the bearish outlook persists. Nearest resistance is actually on the 1-hour charts (not very visible below) around 93.75. Eventually I will look for re-challenge of 91.00.
Trading Idea: looking to sell rallies above 93.75 on signs of a bearish reversal for a test of 91.00
(click to enlarge)
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