» Dollar/Yen Forex Trading Forecast

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Dollar/Yen Forex Trading Forecast

Will the US dollar stall in currency trading against the Japanese yenWhile the US dollar appears to be on a role in currency trading, it may be short-lived — at least in terms of its trading with the Japanese yen.

The dollar/yen forex trading forecast is calling for the greenback to stall in FX trading before the 110.66 level. Bloomberg reports on this dollar/yen forex trading forecast:

A so-called ichimoku chart on a weekly basis shows traders may halt buying the U.S. currency before it reaches 110.66, which is a seven-month high set on Aug. 15 and near the lower end of the ichimoku cloud, he said.

“The dollar’s upside should be very limited from this stage,” said Umemoto, chief currency strategist in Tokyo at the unit of Britain’s third-biggest bank.

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This entry was posted on Tuesday, August 19th, 2008 at 15:42 and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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Dollar/Yen Forex Trading Forecast

Dollar expected to move lower in currency trading this weekThe U.S. dollar is expected to move lower in currency trading this week against the Japanese yen. Some analysts think that dollar/yen could go as low as 106.53 by the end of the week. Bloomberg reports on the dollar/yen forex trading forecast:

“The charts are showing some bearish signs,” said Suzuki of Shinko Securities, which will merge in May with Mizuho Securities to create Japan’s third-largest brokerage. “The dollar’s decline has yet to find a bottom. I expect it to follow the conversion line lower.”

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Source : GFT Forex

This entry was posted on Tuesday, January 15th, 2008 at 14:21 and is filed under GFT Forex. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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Dollar/Yen Forex Trading Forecast

Could dollar/yen head to 107.23 in currency trading?The next two weeks could be crucial for dollar/yen, according to one of the more recent forex trading forecast reports. Dollar/yen may fall to 107.23 in currency trading in the coming weeks. Bloomberg reports on dollar/yen forex trading forecast:

Support at 107.23 is the dollar’s two-year low reached on Nov. 26. The U.S. currency is poised to extend its 6.1 percent decline last year as the average price for the past 50, 100 and 200 days are all falling, Ng said. Support is a level where buy orders may be clustered.

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Source : GFT Forex

This entry was posted on Friday, January 4th, 2008 at 16:01 and is filed under GFT Forex. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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