Recovery was the main theme in the foreign exchange market today as the yen crosses saw their biggest one-day rally since the unwinding began last Tuesday.

One key to understanding contrary opinion is if the overwhelming sentiment of market traders is on one side of the market, there is not enough buying or selling pressure left to continue the present trend.

The major long-term supporting trendline of the EUR/USD intersects with the 1.2700 figure at the end of March.

The relentless yen buying continued in lock step with US equity selling today as traders are becoming increasingly risk adverse.

When the markets reopened on Sunday evening, the Japanese yen resumed its climb against everything in sight. The dollar fell victim to yen strength as it dropped just a hair shy of its 3-month low.

Tim Bourquin interviews Gene Stunkel, who talks about his trading style and methodology, and how he uses mechanical trading on a daily basis.

Professional system trader Art Collins shares his daily biases in the index, bonds and currency futures markets for March 6.

Price Headley discusses six points of the psychology of risk and how it can improve your trading.

Derek Frey provides weekly market commentary on currencies for the week of March 5.

The USD/JPY price has broken below the confluence of the 200-day SMA, 61.8% Fib, and trendline drawn off of the May 2006 and December 2006 lows.