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01 June 2007

USDJPY - Will break up?

USDJPY - Will break up?


Whether this is the last Bullish attempt or a break up will see soon...

The Bearish Divergent Bar formed few sessions ago couldn't break the Bulls support nevertheless the large fluctuation - almost 100 pips. Fortunately this move kept me away of loss.

The battle narrowed the range very much which was obviously to end in an explosion in either side up in this case. It is visible that the up move was predicted by strong up acceleration pushing momentum also up.

The question is: is there enough steam to break up?

On daily chart we see double top formation and divergance between momentum and price...

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