Yen Technical Outlook

Published July 28th, 2009 - 06:25 GMT
Al Bawaba
Al Bawaba


The drop below 93.50 eliminates the bullish triangle count and leaves us with the bearish count in which the decline from 101.50 is a series of 1st and 2nd waves.  The USDJPY is resisted by the 200 day SMA (95.22 today).  Bears are favored against 97.00.