##{"id":61394,"date":"2013-02-27T14:43:09","date_gmt":"2013-02-27T03:43:09","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2013\/02\/27\/more-yen-selling-ahead\/"},"modified":"2013-02-27T14:43:09","modified_gmt":"2013-02-27T03:43:09","slug":"more-yen-selling-ahead","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2013\/02\/27\/more-yen-selling-ahead\/","title":{"rendered":"More Yen Selling Ahead"},"content":{"rendered":"

\n\tAfter a sharp US dollar sell-off, the USD\/JPY<\/span> has consolidated and formed an "inside day" at the bottom of the previous bar. To the TechWizard<\/span>, this is bullish dollars (bearish yen) as it shows you that the sellers have run out of puff and failed to make a new low. So recent selling really just reflects profit-taking and trailing stop-losses being triggered (most algorithmic trading robots have them) rather than fresh selling.<\/p>\n

\n\tTo confirm this , the Wiz's view is that if the USD\/JPY<\/span> breaks 92.80, 5 pips above yesterday's high, it will confirm that this serious dollar uptrend (yen downtrend) has resumed its course and we will be targeting 94.30 and above thereafter.<\/p>\n

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\n\tThe TechWizard<\/span> is the pseudonym of Scott Morrison, whose experience in financial markets exceeds twenty years. Morrison operates his own website nowadays at www.techwizard.com.au. All views expressed are the TechWizard's<\/span>, not FNArena's<\/span> (see our disclaimer).<\/em><\/p>\n

\n\tTechnical limitations<\/strong><\/em><\/p>\n

\n\tIf you are reading this story through a third party distribution channel and you cannot see charts included<\/span>, we apologise<\/span><\/span>, but technical limitations are to blame.<\/strong><\/p>\n

\n\tFind out why FNArena<\/span> subscribers like the service so much: "Your Feedback (Thank You)<\/a>" – Warning this story contains unashamedly positive feedback on the service provided.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"