Wednesday 14 March 2012

USD/JPY: Hitting Resistance Trend Line... and Nothing Else

USD/JPY is just hitting a good Resistance Trend Line (black line in chart), so one could expect a bounce. There is however, no other Fibonacci Retracement Lines at or near by the Resistance Trend Line. So the question is, should we risk just using the Resistance Line?



In addition to this CCI, MACD, RSI, and DTosc are all displaying divergence (trend reversals):