USD/JPY is still bounded in choppy sideway trading last week and outlook remains unchanged. Such consolidation from 75.94 could extend further and another rise cannot be ruled out. But upside is expected to be limited by near term falling trend line (now at 77.59) and bring fall resumption eventually. Below 76.11 will turn bias back to the downside and break of 75.
Oct 09, 2011 | ActionForex
This market has continued to be very boring as the daily moves are contained within 50-60 points. For the week almost nothing happened. If the market continues to be choppy and rallies a bit more and the daily oscillators become overbought.
By Alexander Nikolov | Oct 03, 2011 | TrendRecognition
USD/JPY sideway trading from 75.94 continued last week and outlook remains unchanged. Stronger recovery might be seen initially this week but upside is expected to be limited by near term falling trend line (now at 77.71) and bring fall resumption eventually. Below 76.11 will turn bias back to the downside and break of 75.94 low will confirm resumption of whole fall from 85.
Oct 02, 2011 | ActionForex
The pair USD/JPY continues to test the support at 76.48 after a pullback on 76. The short term bullish slant is still support. All indicators are neutral. We maintain to trade only short positions as far as 76.76 is resistance. A return below 76.48 will comfort our bearish feeling. The breakout of 76.18 will give a new sell signal and open the way towards 75.50 and 75. However, if 76.
Sep 30, 2011 | Forextribe
Euro resumed its down trend again as market is getting sick of the bailout.
Sep 29, 2011 | IBTimes
During last two weeks I maintained the favored strategy as "shorts are favorable at 78. Well, the market did not make it so much higher and tried to break below 76.40 level. However, it then recovered abv 76.40 thus proving that I was overestimated the importance of this particular level.
By Alexander Nikolov | Sep 26, 2011 | TrendRecognition
Despite another dip to 76.11, USD/JPY is still contained above 75.94 low and stayed in range of 75.94/77.85. Thus, recent sideway consolidation is still in progress. On the upside, while another recovery cannot be ruled out, we'd expect strong resistance from near term falling trend line (now at 78.04) to to limit upside. On the downside, break of 75.
Sep 24, 2011 | ActionForex
USD/JPY has traded in a rather tight range for the past coule of weeks and there is really nothing new to add. The daily trend remains on the downside, but considering the lack of downside momentum, I expect to see further sideways trading in the next week or so. During this sideways trading a rise twd 78.10 is likely to be seen.
By Alexander Nikolov | Sep 19, 2011 | TrendRecognition
Despite edging lower to 76.55 initially, the spike recovery last week dampens the immediate bearish view and we'll stay neutral first. On the downside, below 76.55 will revive the case that consolidation from 75.94 has finished at 77.85 already. In such case, bias will be turned back to downside for 75.94 first. Break will confirm resumption of whole fall from 85.51. On the upside, above 77.
Sep 18, 2011 | ActionForex
Last week I said that shorts could be favored but that there was no low risk entry point. Well, there is still no low risk enty point on the short side, but if USD rises a bit further twd 78.10/20, then maybe there will be one. The point is that the daily trend remains weak down and the prices are firmly below the declining 100-day moving average.
By Alexander Nikolov | Sep 12, 2011 | TrendRecognition
USD/JPY's consolidative trading from 75.94 continued last week and despite edging higher to 77.85, there is no follow through buying so far. Further rise could still be seen with 77.06 minor support intact. But after all, we'll stay bearish as long as 80.23 and expect and eventual downside breakout. On the downside, below 77.06 minor support will flip bias back to the downside for 75.94.
Sep 11, 2011 | ActionForex
Pricewise, USDJPY is exactly where it was a week ago and two weeks ago. As for the wave pattern, it remains unclear at this stage. I have put some labels on the chart to show one possibility, but other structural choises are possible too. So, really the confidence remains low. As for the trending conditions, they remain neural to negative, so generally the short side is favored.
By Alexander Nikolov | Sep 05, 2011 | TrendRecognition