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Recent Posts
- Trade Idea Wrap-up: USD/CHF – Buy at 0.8970
- Weekly Review and Outlook: Risk Recovery Short Lived, Dollar to Extend Rally in a Busy Week ahead
- Trade Idea: EUR/JPY – Sell at 104.50
- EUR/USD Short Term Bear Flag?
- Liquidity Crisis? A Currency Perspective
- GBP/USD Candlesticks and Ichimoku Analysis
- Euro Area: Debt Crisis Set to Continue for Years
- GBP/USD Medium Term Downchannel and the QE Debate
- Trade Idea: USD/CHF – Buy at 0.8710
- Trade Idea: USD/CHF – Buy at 0.8440
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USD/JPY Archive
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Trade Idea Update: USD/JPY – Buy at 87.70
Posted on July 10, 2010 | No CommentsDollar’s near term sideways trading below resistance at 88.77 is expected to continue and although retracement to 88.00 support cannot be ruled out, reckon renewed buying interest would emerge around 87.65/70 (approx. 61.8% Fibonacci retracement of 87.02 to 88.71) and bring another rally. View full post... -
Trade Idea Wrap-up: USD/JPY – Buy at 87.70
Posted on July 10, 2010 | No CommentsDespite intra-day rise to 88.71, the subsequent retreat after failing to test previous resistance at 88.77 suggests further consolidation below this resistance would take place and mild downside bias is seen for retracement to 88.00 support, however, reckon renewed buying interest would emerge around 87.65/70... -
USDJPY: Strength Builds On Hammer Triggered Recovery
Posted on July 9, 2010 | No CommentsA follow-through rally on the back of its Wednesday hammer triggered recovery saw USDJPY breaking above its May 06′10 low at 88.23 on Thursday. This development has opened the door for further recovery higher towards the back of its violated rising trendline at 89.40. A... -
USD/JPY Tests First Resistance After Bottoming at 87
Posted on July 9, 2010 | No CommentsThe USD/JPY has been very weak, but seems to have found a bottom at 87. After several failed daily attempts at breaking below this level, the market started to rally during yesterday’s US session. The market is now near 88.50. The first level of possible... -
USD/JPY Establishes a Double Bottom Low
Posted on July 8, 2010 | No CommentsPrice action on USD/JPY, a 4-hour chart of which is shown, after establishing a solid double-bottom low in the very significant 87.00 support region, went on to breakout well above the equally significant 88.00 price region before pulling back to 88.00 and rising with a... -
Trade Idea Wrap-up: USD/JPY – Sell at 87.60
Posted on July 8, 2010 | No CommentsDespite recovering after intra-day fall to 87.02, early breach of indicated support at 87.33 signals correction from 86.96 has ended at 88.22 and bearishness remains for a retest of this level, however, break there is needed to confirm decline has resumed and extend weakness towards... -
USDJPY: Threatening To Recapture The 86.96 Level
Posted on July 7, 2010 | No CommentsWith a marginally higher close after turning off its intra day high at 87.79 seen on Tuesday, USDJPY was seen weakening and threatening the 86.96 level, its July 01′10 low in today’s trading session. On a violation of the 86.96 level, further weakness should... -
USD/JPY Bounces Down off Resistance within Downtrend
Posted on July 6, 2010 | No CommentsPrice action on USD/JPY, a 4-hour chart of which is shown, rose to re-test the key 88.00 resistance level on Tuesday (7/06/2010) before dropping back down to continue its bearish stance. This occurs within the context of a strong overall downtrend for the pair. The... -
USDJPY: Weakness To Develop Towards The 84.80 Level
Posted on July 3, 2010 | No CommentsUSDJPY: The pair is now developing downside momentum for a return to its major support at the 84.80 level, its Nov’2009 low after an upside price rejection saw it cutting through its short term rising trendline earlier in the week. The pair had rallied off...