Dienstag, 5. Mai 2009

Potential UDS/JPY Head-and-shoulder-pattern forming


Potentially a usd/jpy head-and shoulder-pattern is forming, best seen in 4 hours/daily chart. I put this in my longer term watch list (next 3 days) to see how this pattern develops. I still think this recent yen-crosses-risk-appetite-rally is suspect and build on very fragile ground. Its pure sentiment improvement, while all data are still not showing a significant improvement, so we have a clear sendiment-data-divergence. And sentiment can change very rapidly.

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