Yen Technical Outlook

Published August 21st, 2008 - 05:35 GMT
Al Bawaba
Al Bawaba

Price dropped below 108.36, which makes it possible that the entire rally from 95.72 is complete. 



The rally from 95.72 is in 3 waves (W-X-Y), which is corrective and the sharp reversal warrants attention.  It is worth mentioning as well that the rally from 95.72 retraced 50% of the decline from 124.13.