Yen Crosses Such As EUR/JPY, GBP/JPY Continue To Fall

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Yen Crosses Such As EUR/JPY, GBP/JPY Continue To Fall

By James Chen on July 10, 2009 | More Posts By James Chen | Author's Website

After showing a glimmer of a bullish correction yesterday on the heels of a dramatic drop, the yen crosses (including EUR/JPY, GBP/JPY, CHF/JPY, AUD/JPY, and CAD/JPY) appear to have resumed their bearish stance today, and seem poised to continue in the direction of yen dominance. A true bearish continuation of the recent trendline breakdowns that occurred on all of these yen crosses, however, would only be confirmed if prices drop below the following levels:

EUR/JPY: 127.00
GBP/JPY: 146.72
CHF/JPY: 83.91
AUD/JPY: 70.92
CAD/JPY: 78.50

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