- October 4, 2009
- Posted by: Ramki Ramakrishnan
- Category: Jpy
There has been a lot of noise recently about the strengthening Yen. On Friday, the currency pair has closed marginally above a downtrend line of resistance, and this potentially sets up a low-risk trade for the patient participant. I am not saying that we will see a significant recovery in USD/YEN, but in case you see a rally in the next few sessions towards 91.20 levels, I thaink that could offer you a low-risk sell level. We would be looking for a move back to 85.00. Here is the chart. You really don’t have to have a stop of more than 10-15 pips on this trade if you get in near 91.15/20. Good luck!