Yen Looks to Make Short-Term Gains on Pullback

Published June 9th, 2009 - 03:40 GMT
Al Bawaba
Al Bawaba

The Japanese Yen has been losing value against the U.S. Dollar since June 1st and has bounced off upward sloping support on multiple occasions. It appears now that USDJPY has grown above trend, but may see a corrective pullback toward support. Looking at the RSI, price-action may have broken trend and might now see the pair push toward 97.50.