103,50. USD JPY is in a consolidation after the last bearish movement. USD JPY moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD JPY. The price should find a support above 103,40. If the support is broken then the target will be 102,50. We won't take a position. The risk/reward ratio is too high to take a position..

updated 09 mai 2008 06:00 GMT +02:00