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Yen Crosses Take A Beating
By Eliseo Agas | July 11, 2007
The Yen crosses had big moves yesterday…mostly down. Despite the strong sell-off many of the crosses are still well within their up-trends meaning their trends haven’t been killed as a result of yesterday’s action.
The overnight action recovered most of the lost ground. Keeping this in mind CHFJPY is my pick for greatest potential if and when those who’ve been shaken out of their longs yesterday come rushing back in to grab their stake before it’s too late.
Though I like most of the Yen crosses I think CHFJPY is the one that represents the path of least resistance to the upside from a technical perspective on the chart. Cleary, I’m assuming there is more upside potential just because the trend hasn’t ended yet.
Tags: dollar, forex, forex news, forex trading
Topics: Better Use Charts - Use Charts Better |
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