Monday, October 12, 2009

USDJPY at H4 Resistance Channel

Dollar recovery continued since the market open this week and now has touched 90 resistance area which is also the H4 downtrend channel and 78.6% Fib level of 97.78 to 88.00. I decided to short the Dollar against Yen with stop above the channel. First support can be seen at the week open at 89.5 and the 88.6% Fibo level at 89.12.

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