Monday, July 24, 2006

Cautiously long Dollars

I am currenctly sitting small long Usd/Jpy. It looks to me like weshould go up and test the 119.00 levels. From a technical perspectivethese was a gap on the daily charts (116.52-115.96) which was filledand then tested and we seem ready to move higher. From a fendamentalperspective it looks like Japan has eliminated thier Zero interest ratepolicy. On the surface this should be good for Yen, but I think tyhemarket is to optomistic on rate rises and I think they will bedisappointed. I am going to use a move below 115.80 as my stop.



Post a Comment

Subscribe to Post Comments [Atom]

<< Home