Wednesday, September 16, 2009

USDJPY in Low Trend



UsdJpy formed was consolidating from 08-Sep to 10-Sep. Upon breaking out fromt the channel, the ADX broke above 25 (gaining sufficient strength for the bear), RSI hit below 40 (Bearish half). It headed towards the 1.618 level and broke through it. It was almost touching 2.618% (at 89.96). Now it's consolidating again. The bear is losing strength, RSI went into the grey area. Upon gaining sufficient strength for the bear again, it would head towards 2.618 level.

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