DOW And USDJPY

USDJPY hit the 108 region today. This is bullish for the DOW as explained in my earlier post.



The USDJPY is rebounding from the lower end of its downtrend channel. We are less than half way to the upper end of the downtrend channel

The 8 day EMA has just cross the 21 day EMA for USDJPY. This also suggests that USDJPY has a high chance to move up. For more information on 8 day EMA and 21 day EMA crossover, you can refer to the book Mastering The Trade by John F Carter

Mastering the Trade (McGraw-Hill Trader's Edge)