December 7th, 2009 – The USD JPY climber 300+ pips (88.29 to 90.75) on Friday due to the unemployment going down from 10.2% to 10.0%. Expect the momentum to stay bullish but also expect some “currency consolidation” to occur before climbing above the 90.75 high. Basically, “currency consolidation” means that a currency momentum being bullish or bearish, will stop at one time or another to go in a straight line phase before coming back to the original direction. Expect, the USD JPY momentum to stay and the next resistance line of 92.31 will most likely be broken, unless we get some really negative economic news.
USD JPY - 300+ Pips Jump and Currency Analysis
