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Old 04-07-2009, 11:06 AM   #1 (permalink)
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Post USDJPY – Not sustaining at the highs



USDJPY: Failing to sustain at the highs above the 55 week moving average. This is beginning to look more like the rally up in Jan 1999 which did not sustain.

USDJPY: Back below the 55 week moving average and it appears as though the market is likely to correct down further in the short term. A re-test of the support levels at 99.13 (200 dma) and the reverse head and shoulder neckline at 98.75 looks likely.

Again we are drawn to the similarities in price action between Jan and May 1999 and now. In May 1999 USDJPY rallied to the 55 week moving average, made a marginal new high and did not sustain the move but instead fell considerably lower. Have we just seen something similar?

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Old 03-19-2012, 09:15 AM   #2 (permalink)
 
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Old 03-20-2012, 03:36 AM   #3 (permalink)
 
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