Published on Thu, 6/05/10 |
Yen To Dollar Daily Chart
Dollar vs Yen Chart 6 May 2010
The dollar yen continues to struggle higher but without any great conviction at present with yesterday’s down candle symptomatic of this lack of momentum at present. However, the low of yesterday did find some support from the 9 day moving average and this pattern appears to be continuing in early trading today with the pair failing to sell off sharply as a result. The 40 day moving average is perhaps the key technical indicator for the yen to dollar pair at present having provided a solid barrier to any short term pullback over the last few weeks and this is currently residing in the 93 price area which should provide a cushion in the event of a further fall. Longer term the outlook remains mildly bearish with the weekly chart reinforcing this view, particularly given the level of support from the 9 week moving average. However, we are now running into serious price congestion between 95 and 100 and only some sustained momentum will drive the pair higher and through this congested region. Should we achieve 100 and above in due course then the ensuing rally could develop into a longer term trend, particularly if we clear the 200 week moving average which is currently sitting at 104. The price action this morning suggests that bullish sentiment remains in place at present with a relatively deep test in early trading.
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Published on Thu, 18/03/10 |
Yen To Dollar Daily Chart
The yen to dollar currency pair continued to trade sideways yesterday in a very narrow trading range as we approach the end of the Japanese accounting period on March 31st , with the forex pair range-bound between 90 and 91 as a result. As always with any period of consolidation, this is generally followed by [...]
Published on Thu, 25/02/10 |
Yen To Dollar Daily Chart
Last week’s failure by the yen to dollar pair to breach the 200 day moving average proved to be a key turning point with the pair reversing sharply lower this week and once again breaking below all four moving averages. This price action mirrors that of early January where an attempt to rally was promptly snuffed out [...]
Published on Tue, 9/02/10 |
Yen To Dollar Daily Chart
The yen to dollar yen pair continue to prove an extremely difficult currency pair to trade, as this key forex pair remain range bound between 94 to the upside and 85 to the downside as the struggle between the two safe haven currencies continues unabated. The mid January breakout that was initially signalled on the [...]
Published on Wed, 27/01/10 |
Yen To Dollar Daily Chart
Following the tweezer top reversal candle pattern of earlier in the month, the dollar yen chart pair has continued to slide lower, once again moving below all three of our short term moving averages (9,14 & 40 day) as well as the 200 day, and edging dangerously back towards the price level at which an [...]
Published on Tue, 12/01/10 |
Yen To Dollar Daily Chart
Yesterday’s candle on the yen to dollar daily chart ended the trading session as a doji with a narrow spread and wicks to both top and bottom, suggesting an indecisive market that is now looking for some direction in the 92 to 93 price region. The rally of the last few weeks, which was triggered [...]
Published on Thu, 7/01/10 |
Yen To Dollar Daily Chart
The yen to dollar currency pair continued its strong recovery once again today, ending the trading session with a wide spread up candle which found strong support technically from both the 9 and 14 day moving averages, suggesting that this move is not running out of steam just yet. Whilst the technical indicators provide support [...]
