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Thread: Jpy Technical Analysis

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    Default Jpy Technical Analysis

    JPY

    Comment: Typical of the Japanese yen: when it goes, it takes no prisoners! Similar price action in November 1998 and in 2002. Pivotal support between 115.50 and 115.00 has been broken and now we shall be watching to see whether the authorities attempt smoothing operations ahead of the psychological 110.00 area. Do as little as possible while assuming that implied volatility will remain high for another week.

    Strategy: Possibly attempt tiny longs at 112.00; stop/reverse below 111.85 for 110.25. Cover longs ahead of 115.00.

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    The volatility for the dollar against the Japanese reached high levels last week due to the huge volume that allow the pair to hit new low records. The pair last week tried to form some reversal signals in projection moves towards the upside.

    The trading range for today will be between the key resistance at 115.40 and the key support at 112.50.


    The general trend is down as far as 119.00 remains intact, targets at 111.30 and 107.70.

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    Quote Originally Posted by ALiR View Post

    The general trend is down as far as 119.00 remains intact, targets at 111.30 and 107.70.
    no thats not wright the trend is up

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    Default USD/JPY today

    Dlr's recovery fm 113.99 (Aust.) suggests an
    intra-day low has been formed n consolidation with
    mild upside bias is seen for gain to 114.50/55, how
    ever, only abv o/n NY high at 114.80 wud signal the
    erratic decline fm 115.51 has ended, 115.00/10.

    Below 113.99 wud extend weakness twds 113.68 b4
    prospect of a rebound. Stand aside for now...

    Range Forecast
    114.20 / 114.50

    Resistance/Support
    R: 114.57/114.80/115.24
    S: 113.99/113.68/113.09
    sm_smile

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    Default

    trading now on the USDJPY is too risky

    preferable next week

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    Default USD/JPY now

    Although dlr's stronger-than-expected retreat
    fm 116.26 suggests y'day's rally fm 113.86 has made
    a temp. top there n retrace. to 115.40 cannot be
    ruled out, reckon 115.10/13 wud contain weakness n
    yield rebound later.

    Stand aside for now n look to buy on subsequent
    fall. Only abv 115.95 revives bullishness, 116.26..

    Range Forecast
    115.50 / 115.85

    Resistance/Support
    R: 116.26/116.76/117.15
    S: 115.23/115.08/114.58

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