Yen To Dollar Daily Candle Chart - January 30th 2009

Yen To Dollar Daily Candle Chart - January 30th 2009

There is only one word to describe the yen to dollar pair at the moment – YUK ! Yesterday’s dire news on the Japanese economy did nothing to provide us with any direction whatsoever, with the moving averages now converging in a very congested area. Yesterday saw a down day which briefly penetrated the 9 day and 14 day averages, but provided little else in the way of a confirming signal or otherwise.

The main news out later today is in the US with the release of the advance GDP figures, and further details are available by following the link to the euro to dollar pair. I would advise staying out of this pair until we see a confirmed move one way or the other. Have a great weekend and good luck with your trading.

The short term and medium term are sideways, with long term bullish.