Anytime we get above forecast and above 200K employment change and decline in unemployment, we get welcoming sign for the US economy. Risk appetite usually leads to pressure for the USD. Indeed we saw that against the commodity currencies like USD/CAD, AUD/USD and NZD/USD where dollar weakness was apparent…However, we have a different reaction in EUR/USD, GBP/USD, USD/CHF, and USD/JPY…
76.00 is a psychological support for USD/JPY, while the 75.55 level is the record low. The market has been bearish since being rejected sharply at 78.25 as can be seen in the 4H chart. After breaking below a range support at 76.55, the market continued sharply lower until it got near 76.00. The USD/JPY here is oversold according to the RSI in the 4H chart and price action has started to decelerate…
The “USD JPY” currency pair has often been a favorite among traders. Stability and predictability have been the hallmarks of this pair, with trading volumes tracking in second place, right behind the Euro and Dollar combination. The Yen has remained remarkably strong following the major earthquake from last March, due primarily to a massive repatriation of assets back to the homeland…
For the USD/JPY it has been a rollercoaster of a week as it surged toward range resistance at 78.25 only to fail and fall back sharply now back to range support near 76.55. The daily chart shows the strength of price action to the downside. To start next week, if we don’t slow down and decline in volatility, the USD/JPY has further downside risk toward 76.00, and maybe even lower toward the record low of 75.55…
The USD/JPY was unable to push above 78.25 after the FOMC meeting on the 1/25 US trading session. The 4H chart shows a sharp rejection, which has followed through and is now trading near the central pivot of the range. This is not exactly the middle of the range (a bit lower), but is a common pivot, here just above 77.30…
By: Dima Chernovolov USD/JPY has recently completed the extended Triangle chart pattern identified by Autochartist on the daily charts. The length of this chart pattern is equal to 251 candles. Autochartist rates the overall Quality of this Triangle at the 6 bar level as a result of the average Initial Trend (rated at the 5…
Last week, the USD/JPY failed to break above 77.32 range resistance and fell to about 61.8% retracement before finding support. The RSI was held above 50 and shows a possible bullish momentum development then. After starting the week quietly, the market rallied sharply during the 1/24 Asian-European session and broke the 77.32 range resistance heading into the US session…
Looking at the daily chart, USD/JPY has been trading in a range. Resistance has been at 78.25 and support at 76.55. A central pivot (though not exactly at the half-way point), could be seen at at about 77.33. Te daily chart shows that the market has been trading in the bottom half of the range since the start of the year. The market has respected the 76.55…
By: Dima Chernovolov USD/JPY has recently completed the Uniform Triangle chart pattern identified by Autochartist on the 4-hour charts. The overall Quality of this chart pattern is rated at the 4 bar level as a result of the low Initial Trend (measured at the 3 bar level), significant Uniformity (7 bars) and average Clarity (5…
After failing to break above 78.25, USD/JPY invalidated the bullish outlook and remains pressured heading into 2012. The 4H chart shows re-establishment of bearish momentum and price falling further from the 200 4H simple moving average as well as a broken rising support. There is an immediate support pivot near 77.10, the December low. The consolidation low, established in November is near 76.56…
RT @MarvellousR8kie @alaidi Thank you very much for the valuable insights. Great seminar. Thks for coming ! #forex
A MUST For Anyone who Trades FX! Free e-book from BK -Don't Trade Like Tony Montana FX http://t.co/WTBAVCeZ .03
$GBPUSD 240-minute swing entry update video walk-thru http://t.co/Gd2ELB55 #forex $$ $GBPUSD Follows-Through as Greenback Slides Towards Psych Level http://t.co/wVNJGzNH #forex $$ Sandy kicking off the seminar, Ill take over at Noon http://t.co/xrZdNmNC #forex $SPX Pretty much replicated $EURUSD shorts on Thurs nite as on Tue; results were the same, peaks at 1.32 back to hit 13080s targets #forex
Thank you kindly! Have a great weekend. @SE1_Trading @LeeGrins @aussietorres @knmtechnology @esanchez81 (cont) http://t.co/mwArOhWy
Need to launch changes on DailyFX so US traders can watch videos. May take a few days. Meantime US viewers can go here: http://t.co/z54gnUQY Weekend Video (now available to US viewers): AUDUSD and Dow Clear Resistance Post NFPs, EURUSD Anchored http://t.co/eDfHlafs And, there were no fireworks in US crude positioning this past week. But then again, oil held congestion http://t.co/XOKxCq4l We had a notable jump in the net long interest in gold this past week. Feeding into the metal's upswing. http://t.co/9Q5FNffe We've noted the divergence between S&P 500 price and volume. Add to that net speculative positioning. http://t.co/PHLpdOMi We talk about the short-cover potential in EURUSD, but what about the unwinding of this big $AUDUSD long buildup. http://t.co/uHep6hbe In the meantime, here is the $EURUSD versus the net speculative Euro interest. A lot more room for covering here.. http://t.co/d7P0JHsa
weekly http://t.co/FjE1lFRL i WILL be online sunday night during the super bowl after I smoke my ribs on the grill #forex Yet another Friday where $EURUSD is rallying into the close on spec that Greek deal will be done. The US Dollar Index fell far behind this recent build up in net speculative positioning in dollars. http://t.co/vMcNiXT7 Here's the Dow Jones Industrial Average and its respective volume lull as well. http://t.co/e2X4CbFK Too much to expect a multi-month high close on the $S&P 500 to garner greater turnover. http://t.co/vnF8MqmY
Co-chairs of Greek Creditors Committee flying into Athens this w/e - either tough decisions need to be made or a deal is ready to be closed Best performing currency pair today is CADJPY +1.11%, Worst performing is EUR/CAD -0.60% RT @kathylienfx: @Fxflow Congrats on cracking above 8k// thanks K Flow Rules! :) crosses http://t.co/sTJIEdld better opportunities here (still) than in usd imo Awesome Timetable on Greece courtesy of WSJ. Print it out or save the link http://t.co/RnUs2EYX ...great quote from Sebastien Galy at Soc Gen in that article, “The SNB’s hand is being forced and it will likely be fairly brutal.” According to a good FT article on SNB political pressure for solid intervention, the options market is pricing in a 30% chance of 1.20 break EUR net short positions down 8 percent - confirming that shorts were "squeezed" over the past week That's a hearty drop in net dollar long interest from the COT figures. Good indicator for establishing a time frame for dollar's tumble.
This is the stand out figure IMO RT @djfxtrader: Net Yen Long Position $9.3 Billion Increases 30%,according to analysis of CFTC data #forex Here's the risk-trend alternative to the cable channel: $AUDUSD blowing through the potential triple top at 1.0750 http://t.co/q4EgQK8n
#FF The young ones in FX @Hew_Dat @stephensimonis @Lawrence_Fayman @josephrichman @Rebelgt09 @jaredboydfx You can't use rate expectations for the BoE, so here is $GBPUSD versus the UK-US 10yr yield differential. http://t.co/0pq2FBfE We're talking the spread of a crisis state from Greece to Portugal, but Portuguese CDS have pulled back recently. http://t.co/KQ85ZFYl Fed ZIRP 'less' ZIRPy -time for ECB/BoE/BOJ/SNB to play catchup (mkt weighing adj in rate diffs w/risk app)..balance sheets ready to implode
@JamieSaettele thanks buddy!..yep 161.8% projection of wave 3 vs 1 - kiddie stuff :-) Can u believe I will ACTUALLY be watching the Superbowl Sun? Usually I'm at a rest bc its the BEST day of the yr to get those had reserv!
Do now that we're all on LinkedIn, what happens? Do we all get raises? Or do we all hire each other? An hour an change left for the official NY trading session. Looks like we will hold onto these breaks for next week. You can definitely tell those officials that are irked by the 2014 FOMC hold call. Bullard says it was wrong to link it to a specific time. Our clients at Aspen have 1.0820 limits to take profits in AUDUSD to go flat for +225 pip trade. Feds Bullard says Fed may have to raise rates before 2014 and strong data weakens case for QE. He is a non voter on FOMC
The blog owner requires users to be logged in to be able to vote for this post.
Alternatively, if you do not have an account yet you can create one here.
Powered by Vote It Up
Information and opinions contained on this page are for educational purposes only and do not constitute trading recommendations.
Trading OTC Forex on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange or futures you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange and futures trading, and seek advice from an independent financial advisor if you have any doubts.
