FOREX New York Session Video August 9, 2007

The yen crosses had been falling during the entire London session. The USD/JPY was no exception, dropping more than 100 pips since the Asian open. Fortunately, the volatility didn't end before the New York traders arrived. The break, then subsequent re-test, of M1 provided traders a chance to capitalize on the move. The continuation produced a 27-pip trade for those who took profit at the weekly central pivot point.