Dollar Versus Yen and Euro January 25th

FX Strategy Video > Currency Pairs Analysis

USD/JPY shot straight up during the Tuesday session as the Yen was sold off against many currencies. The pair slammed into the 78 area, and found itself slowing as soon as the first bits of resistance were met. Because of this, we see this pair heading back down towards the 76.50 level.

The EUR/USD pair ran up to the 1.30 area on Tuesday, and even formed a hammer. However, the resistance area goes all the way to the 1.31 level, and we aren't comfortable buying until the market closes above that level. Selling is easy if we break the bottom of the hammer, which would actually make it a "hanging man."

Published on 24th of January 2012
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