USD/JPY 1H chart 1/29/2013 11:45AM EST
(click link to see chart)
Flag: The Flag pattern noted in yesterday’s USD/JPY update is broken, and USD/JPY has made a new high on the year. As we move in to the 1/30 US session, there is a throwback. Will the market continue to make new highs after these risk events?
Remember today is heavy on key fundamentals. GDP is about to be released, and FOMC decision will happen at 2:15PM EST. If things don’t shake up, then the continuation could be expected.
Fan Yang CMT is a forex trader, analyst, educator and Chief Technical Strategist for FXTimes – provider of Forex News, Analysis, Education, Videos, Charts, and other trading resources.
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