Dollar Versus Yen and Euro February 29th

FX Strategy Video > Currency Pairs Analysis

USD/JPY went back and forth throughout the session on Tuesday, and formed a perfect doji. The 80 level just below should continue to be supportive, but we need to see a break above the top of the range for the day. A break below the bottom of the daily range breaks the 80 as well, and we see this as a very negative signal if it happens.

EUR/USD rose again during the session as the 200 day EMA is being tested. The 1.35 level is just above, and the 50% level is also in the neighborhood. With all of this and the LTRO coming out today, this market is ready to looks a bit weak though.

Published on 28th of February 2012
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