In the short term the yen moves without definite trend. This morning it was trading at a small uptrend. If you remember this pair has a bearish path determined by the Japanese government and BOJ, seeking a stronger devaluation. The momentum technical indicator is below the signal line of MACD showing a likely bullish movement for the yen in the coming days. The closest target is at 92.32 (fractal), if this level is broken, the appreciation of the yen may be until the level of 89.75. Therefore, we recommend selling at the current price level.
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For detail explanation and best discovery on market trends you may visit via USD/JPY - bullish outlook - for March 05, 2013 (daily strategy) . Thanks for your support on USD/JPY - bullish outlook - for March 05, 2013 (daily strategy)
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