USD/JPY going Down

by Eko Prasetyo @ 10:37 AM I think it is safe to project that USD/JPY will have a BEARISH market in the following weeks. Latest USA fundamental economic indicators gave some disappointments. From the following chart, it can be seen that the pair will have to go down to the pink line support level before going up again. The last conjunction point between STOCHASTIC FAST and STOCHASTIC was when they are going down, and have not met again to signal a BULLISH momentum. A look at the MACD indicatorc confirmed that USD/JPY will go down. The SHORT MOVING AVERAGES and LONG MOVING AVERAGES also suggest a BEARISH market, with LONG MOVING AVERAGES movement seem to indicate that the turning point from BEARISH to BULLISH will be achieved in the next 20 or so days. Wuih..that's some analysist, isn't it? As usual, just correct me if I'm wrong tags: tags: forex trading on USD/JPY | My Diary | Join Marketiva| |