http://millionaireclub88.blogspot.com/2010/07/jpy-another-safe-haven-currency-is-to.html
You do note that our last analysis above on the possible JPY being weakened is spot-on.
Last week this currency pair touched 88.69 and sit above the down trend line (marked in purple) on 88.58 before market close.
Further breaking 88.76 (Recent high) ,which is also near Ichimoku Cloud Top (H4) shall yield its much needed upward momentum to see 89.23, then 91.43,, being its next strong Resistance.
However, Breaking the down trend line And below 87.85 (50% Fibo Retr), which is also near the Ichimoku Cloud bottom shall bring its downward movement toward 87.02 next.
Strategy:
BUY on Pull Back Near 88.10--88.20 ( H4, Tenkan-Sen Line and 23.6% Fibo Retr)
First Target: 89.00
Second Target: 91.00
H4 Chart
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