Dollar Yen - 18th Februa 2009 Daily Candle Chart

Dollar Yen - 18th Februa 2009 Daily Candle Chart

The rally in the dollar yen continued yesterday, and hopefully you followed my suggestion with small long positions, which is the same advice for today. Looking at the daily chart, the candle from yesterday was an up bar with tall three moving averages providing solid support to the move. The key point to remember with this trade is that we have possible resistance ahead in the 93.50 region, but if this is penetrated, then expect a move higher back to $95 and above.

All the fundamental news today is the the US, and this is covered for you on the euro to dollar site.

The short term outlook is bullish, the medium to long term is sideways.