Same outlook than last month, JPY is strong for 2 reasons, one is carry trade are reducing due to uncertainty and Japanese banks were not in subprime. The only risk for Japanese banks are the counterparty risk with Lehman, but I heard was not a lot in about 400 or 500 Mios for the biggest.
On monthly chart we are working in a wonderful triangle. We are working under the cloud, the 2 sen are showing dontrend, and span is working under the cloud, and under the rates, all the view in long term is very bearish.
In term of EMA we are working under all the moving average, MACD and RSI are working below the neutral area.
support are seeing arround 101.81, 101.20, 100.00, 98.90
On weekly chart, it s the same analysis than in monthly, averything is showing downtrend
MACD is crossing neutral area, and we are closed to enter in oversold area on RSI 39...
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