21 July 2009

Yen Crosses : Undecided

  • Story here turned into 1 of uncertainty, crossroads.
  • Uptrend lines broken but failed to follow thru and now all pulled back to TLs
  • Market split between risk aversion/risk taking.
  • Technically not clear. Poor odds either way.
  • If forced to choose, would assume pullback to TLs is for selling into. Otherwise, stand clear, for now.
  • The weak USD trade (see previous post) looks good. Probably best not to link it to the above (risk appetite) though to avoid mental blockage. Keep it purely technical.

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