March 12, 2012

FOREX

Earlier this year I wrote a piece saying that Dollar Yen was breaking up through a multi-year downtrend and I thought this would be my trade for the year. After a false start where I was stopped out and then stopped back in again the the yen is doing as expected.
I have been meeaning to update my thoughts on this for a while but havent got around to it but Friends over at MacroMonitor (one of the best blogs on the planet) have done so today.

This one is not going to be straight line but I continue to think Dollar Yen is going higher. The target identified here is the next key level.

Global Macro Monitor

Dollar/yen cleared the top of the resistance zone, which we identified in our last post.   Note the rocket ship to a 10-month high after retesting the generational low in February.

We’re in the process of constructing a Weekly Japan Sustainability Watch and looking and searching for some real-time indicators similar to our Weekly Eurozone Watch  Contact us if you have any suggestions.

Stay tuned.

(click here if chart is not observable)

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