FOREX Training Video | New York Session March 25, 2008

A multi-year low for this month's version of the Conference Board's Consumer Confidence Index produced an immediate negative reaction in yen crosses and U.S. equity indices alike. Analysis from multiple angles – history, fundamentals, technicals, currency correlation, and intermarket analysis – suggested that a downward move would not likely have legs. A double bottom on the GBP/JPY short-term charts gave traders the final clue of the reversal to come. From entry just above a psychological level, to exit at the top of a downward channel, the long trade produced a 120-pip profit for those traders who recognized the clues and acted on them.