The Canadian Dollar and the Yen.

Good evening Dynamic Traders,

Firstly may I apologise about not posting last night but due to internet problems I was unable to, but thankfully it is back on track and so I decided to post a possible quick term trade for tonights analysis.

As you can see from the one hour chart below we have just hit the figure recently with a possible DT formation. Please be aware however that the short term trend is up although we have been heading down since November 07.

I am looking at this short trade scenario as on the daily timeframe we have hit a fibonacci reversal whilst on the chart below we arte getting divergence at the figure.

I am looking for a quick well managed trade but if things develop well it could run.

The Japanese Trade Balance is out later this evening so I will wait until after this to get a better picture.

Charts courtesy of TradeStation.

As always please do your own analysis.

Clayton Farnworth.