Monday, March 3, 2008

USDJPY Hourly Chart

US market is going to open soon. Futures are indicating a lower opening for the US market.


The hourly chart for USJDPY is still in downtrend. It is now approaching the 21 bar exponential average (green line) of 103.35. This is also slightly below the downtrend channel on the daily chart. Breaking this level will bring the USDJPY inside the downtrend channel.

There is hope that it will move up and close the gap. But do note that the trend is still down.

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