FOREX VIDEO - New York Session Review - Sept 16, 2009

Source: blogs.fxstreet.com

You might say that the USD/JPY currency pair had psychological issues today. During today’s London session, the pair formed a double bottom at the 90.00 level, setting the stage for a potential recovery of the dollar against the yen. Traders who “bought the dip” after the break of the 90.50 area, then took profit near the upper Bollinger Band on the 4-hour chart, netted 60 to 75 pips [depending on entry and exit strategy]. Curt Wehrley FX Bootcamp’s Quantitative Analyst


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