The Dollar-Yen with amazing accuracy at the first support in yesterday's report (lowest price after the issuance of yesterday's report is 90.06), and then rose to 91.05, breaking 90.73 on the way, but what followed was a modest move. The most important support is the Fibonacci 61.8% for the short-term at 89.77, and if broken the direction would be down to test the important support 88.68, which must hold to prevent another attempt to test 87.97 which survived 2 weeks ago an attempt for a break.
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ReplyDeleteAaron Grey
aarongrey112 at gmail.com
ReplyDeleteBREAKING DOWN 'Forex - FX'
There is no central marketplace for currency exchange; trade is conducted over the counter.
The forex market is open 24 hours a day, five days a week and currencies are traded worldwide among
the major financial centers of London, New York, Tokyo, Zürich, Frankfurt, Hong Kong, Singapore,
Paris and Sydney.
The forex is the largest market in the world in terms of the total cash value traded, and any person,
firm or country may participate in this market.
Read more: Forex (FX) Definition | Investopedia http://www.investopedia.com/terms/f/forex.asp#ixzz3yYYxORFZ
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