Monday, August 25, 2008

"Technical oscillators supporting the bullish trend for the USD/JPY currency pair"

I just closed out my USD/JPY short waaaay too early at 109.235, but when yer net-worth is up almost 10% in twelve hours, you do stupid stuff like that sometimes.

but for those who complain that my analysis is one-sided I offer the following from finotec.com that I just so happened upon:


http://www.finotec.com/en/Archive/today/USD-JPY.html#


Technical oscillators supporting the bullish trend for the USD/JPY currency pair
USD/JPY – Market strategy is bullish, buying from the 109.85 level

Tammy Wally
25 August 2008
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USD/JPY-market strategy can be a buy from the level 109.85
Technical oscillators supporting the bullish trend for the currency pair
To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice the MACD lines after a bullish crossover above the zero line. In order to find the power of the market, we use RSI (Relative Strength Index).With RSI; we can determine that the market is in a bullish direction. Also, MA oscillators indicate a bullish cross on the short MA line. As seen on the chart there are two bottoms leading upwards to a buying trend.

JPY

Finotec Analysis Team
25 August 2008