Yen Technical Outlook

Published March 24th, 2009 - 06:24 GMT
Al Bawaba
Al Bawaba

The longer term USDJPY decline may have resumed.  The advance from 87.09 is in 3 waves and price has dropped below the wave A high at 94.67, confirming that the decline is in 3 waves (and can not become an impulse).  Favor the downside as long as price is below 99.