Catching a falling star in the yen

Market Pulse: February 12

Last week March 2013 Yen opened at 1.07760 and closed the week at 1.07770. One of the first weeks in months the Yen was up on the week. Looking at Monday’s price action, the move up could be short lived. 

While we saw ADX come down a bit last week, it is still over 40 reflecting a strong trending market-down. MACD is flat and Stochastics are in oversold territory. On the weekly chart, you can see ADX at 89 reflecting extreme strength to trend and weekly Stochastics are in deep overbought territory.

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