Since the Yen is in the news (trader news), let's look at JPY June futures. If we can't regain 0.008410 overnight, we should hit a gap at 0.008384, next support. I also want to point out that USD/JPY is approaching the critical 120 level, where I think real buyers could step in. For now, it's a falling knife so scalp longs only until support is clearly established. 0.00844 is solid resistance (7.4% 2007). My guess is that carry trade money is moving to Europe, solid growth there, as US equities get a little frothy.
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on Thursday, April 26, 2007 at 4/26/2007 10:26:00 PM.
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