Commentary on the USD/JPY and other currency pairs

Forexmentor.com Forex Trading Price Action

All chart levels for the USD/JPY pair are showing price weakness. The 200 EMA is trending down on the 4 hour and 1 hour charts, and yet price is bucking this trend on the 15 minute, in the form of a potential uptrend continuation pattern, with MACD neutralization in place. I see this as an opportunity to look for a place to go short, once the dumb money has had its day.

On other fronts, there are at least nine other pairs all showing severe price weakness, and representing good short opportunities. I have identified those pairs in the AM Review for Tuesday March 6/07.

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