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FXstreet.com (Barcelona) - The relentless selling of the JPY continues unabated and all resistance levels are being taken out on almost a daily basis. According to Technical Markets Strategist William Moore at RBS, "Hourly indicators suggest momentum is overstretched, however it's still strong and the next meaningful resistance level is the area around the 91.50/91.75 level which is the 23.6% retracement from the 2010 sell off."

Above there the 2010 high at 94.97, or 95 handle is the level after that. "A good warning sign that this could be about to end would be a dramatic slowing of the RSI indicator or a crossing of the faster signal line (14) beneath the slower (9)." Moore warns.
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