Hi Traders
How things going with you this week...have you positive trading trend ...
The Japanese Yen (JPY)- tracked other majors as Japanese markets remained closed for the day. Upon positive readings in US ISM services the USDJPY came within a two month high of 105.62 and a low of 104.74 before closing the day at 104.79 in the New York session. Japanese markets will remain closed on Tuesday.
USD/JPY-There is a very accurate narrowing bullish channel on the daily chart, as the pair now floats near the bottom barrier of it. The Slow Stochastic is indicating that the chances of a bearish breach are quite slim and that the bullish momentum still has steam in it. A failed bearish breach through the 104.00 level will probably unleash a fresh bullish move.
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Regards
Forex.DelijaWorld.com
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