Dollar Versus Pound and Yen December 7th

FX Strategy Video > Currency Pairs Analysis

GBP/USD fell during the session to trigger the sell signal from the Monday shooting star. However, the later part of the session saw a bounce, suggesting that the near-term outlook for this market is going to be sideways with a downward bias.

USD/JPY continues to be a "fade the rally" pair as the Tuesday session saw a pullback in this pair. 78 is obviously massive resistance at this point, and one has to wonder if the market will insist on testing the Bank of Japan yet again.

Published on 6th of December 2011
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