December Japanese Yen Futures a Selling Opportunity on More Price Weakness
See on the daily bar chart for the December Japanese yen futures that prices are in a strong downtrend and hit a new contract low on Wednesday. Bears are in full technical command and more downside price pressure is likely in the near term. A move below chart support at Wednsday morning’s low of .9088 would become a selling opportunity. The downside price objective would be .8750, or below. Technical resistance, for which to place a protective buy stop just above, is located at .9250.
