December Japanese Yen Futures a Selling Opportunity on More Price Weakness
See on the daily bar chart for the December Japanese yen that prices are in a four-week-old downtrend and have just hit a 4.5-month low. The bears have near-term technical momentum. A move below chart support at Thursday’s low of .9630 would become a selling opportunity. The downside price objective would be .9475 or below. Technical resistance, for which to place a protective buy stop just above, is located at .9700.
