USD JPY Forex Trading Chart 2 July 2010
Yesterday’s down bar on the usd jpy forex trading chart once again confirmed the bearish sentiment in this pair, but the deep lower wick hinted at some short term positive sentiment and could indicate a possible short term rally as a result. So far this morning, and in trading overnight, this has failed to materialise with the usd jpy trading lower once again having initially attempted a small rally on the back of this mildly bullish view. At present with forex markets now waiting for the release of the non farm payroll data the usd jpy is currently trading at 87.59 and with all three moving averages pointing sharply lower looks set for a re-test of 87 once again with a deeper move to come in due course. The 40 day moving average is now hovering at the 200 day moving average and should this cut across and below which will give us a dead cross forex trading signal, we can expect to see further downwards pressure as a result.
