USD/JPY broke the resistance we had mentioned that we would be watching and moved up to 78.22 as mentioned last weekend. The currency pair touched...
USD/JPY Outlook – Jan 29, 2012
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Regarding wedges and triangles
I’ve attached a 4 hourly EUR/JPY chart with a perfect wedge/triangle formation. A friend of mine insists that this formation loses its effectiveness once prices get past the 3/4 length of the wedge and near the apex. My feeling has always been that the pattern builds up strength as it nears...
Funny
I have to admit, I’m getting a good laugh today regarding the upswing in the stock market and risk currencies. This is such a set up for the big guys to come in and push through the small stops and claim their prize. PAY ATTENTION TO FALSE TRENDS...
USDJPY stays in a trading range between 91.60 and 94.68
USDJPY stays in a trading range between 91.60 and 94.68. Lengthier consolidation in the range is still possible in a couple of weeks. As long...
Pound at one-year high on trade-weighted index
Sterling has gotten a strong boost from signs the UK economy may have dragged itself from recession in the last months. But the pounds strength against its trading partners could not come at a worse time. The eurozone continues to struggle and UK exports to Europe could price themselves out of...
FOREX VIDEO - New York Session Review - Sept 16, 2009
You might say that the USD/JPY currency pair had psychological issues today. During today’s London session, the pair formed a double bottom at the 90.00 level, setting the stage for a potential recovery of the dollar against the yen. Traders who “bought the dip” after the break of the...