Thread: How Low Will USD/JPY Go?

Crude Oil: A breach through the upper level of the bullish channel on the 4 hour chart has occurred. This should cause an additional bullish move that might take oil to levels of above 110.50 quite shortly. This should be a great opportunity for forex traders to jump in on fresh bullish momentum of an already very strong bullish trend.

The price of gold reached a record, trading at $1,000 an ounce for the first time, pushed higher by a weak US dollar and fears about the US economy.

Concerns about a possible US recession are seeing investors buy up commodities such as gold as an alternative to company shares and the US dollar.

Since the beginning of the year the value of gold has increased by about 20% after it rose 32% in 2007 already.

Every bit of bad US economic data seems to be boosting gold because it reinforces the return of its role as a safe-haven asset, and second because the dollar falls on expectations of further Federal Reserve rate cuts.

Keep an eye on this...


Rgds,

and the dollar continues the free-fall...

The dollar fell as low as ¥99.75, before bouncing back above ¥100. It is the first time the JPY has traded below ¥100 since November 1995...

New times ahead and no signs of finding a proper support level.

rgds

The short-term trend of couple dollar a USA/Japan yen - descending - is healthy and, predictably, will proceed. While the couple dollar/yen is below resistance 101,50, drop to 98,10 is possible. End of week more low 100,00 will aim a couple on 90,00 or even 80,00 within 12-18 months.