Dollar Yen Daily Candle Chart - 5th February 2009

Dollar Yen Daily Candle Chart - 5th February 2009

Following on from yesterday, the sideways movement continues unabated! ( exactly the same situation as on the usd cad, another currency pair I follow closely). As we saw yesterday the pennant is now forming with lower highs and higher lows, consolidating around the $90 region, and until we have a clear trading signal, the advice is to stay out of this pair.

There is no news due for relase in Japan today, and the main emphasis will be in the US with the Unemployment Claims, more details of which are available here on the pounds to dollars site.