USD/YEN is a sell on next recovery

Anyone who has traded the Yen knows that it is a different animal from the rest of the pack. But there is one undeniable fact about this currency, it is a trending currency. Once it sets off on a trend, it stays with that trend for a long time.

I am not going to say that the USD/YEN will definitely reach 103.20/30 area, but if it does get there, you should sell some dollars there because there is a pretty good chance for us to revisit the 100 level in the not too distant future. Here is the daily chart of USD/YEN.

USD/YEN chart 19 Oct 2008
USD/YEN chart 19 Oct 2008

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