The Dow is currently trading around 13,278- below its 10 & 30 week moving average and still respecting that trendline dating back to 7-17-06
The yen pairs are enjoying a nice recovery from this bounce. That NZDJPY trade around 80.00 went as low as 80.50 before bouncing to 85.50 a 500 point gain. If you traded this one, congrats! If you were wise enough to trade any of the yen pairs off of this Dow recovery, well done. However, downward pressure still exists so long as we remain below trendline support now turned resistance around 13,500. Take profit over the remainder of the week to reduce too much risk exposure.
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