28/11/2012

The dollars rise against the yen is in focus of the markets. Here the daily chart

Dollar against the yen, USDJPY is the code.
The yen has been down for years but the last several months a bottom has been built and in September the final low was taken, see the chart. Since then an uptrend has started in 5 waves telling me that a longer uptrend is probable, but first a correction must occur. The daily 8 MA is down so a test of the sharply rising 21 and 34 MA:s could be the target for a correction and a buying opportunity.

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