Monday, September 21, 2009

Sep 21: USD JPY - Possible significant bottom at 90.1


USD JPY could have reached a significant bottom at 90.1, especially if 93.3 is taken out in coming days.

I put ITD 3 high at 93.3, which if broken, signals that MTD 9 low has arrived at 90.1. With already 3 MTD lows in a row (MTD 5 low, MTD 7 low, MTD 9 low), LTD 3 low should have arrived at MTD 9 low as well, making this 90.1 level a pretty significant long term bottom.

Bearish trend line has been broken, Stochastic and MACD all supportive for further upmove.
 

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