Yen Technical Outlook

Published May 12th, 2009 - 06:28 GMT
Al Bawaba
Al Bawaba

The long term trend remains down and I expect a resumption of that trend although there is near term upside potential.  A potential head and shoulders top is evident.  Near term, there is risk of a corrective rally back to 97.85 or so.  Such as scenario would present a bearish opportunity for those not already short.