Following Tuesday’s wide spread up bar which signalled the long awaited break out from the sideways trading of the last few weeks, and providing us with a bullish signal, yesterday’s candle came as bit of surprise, finishing the day as a bearish harami (Japanese for...
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Yen To Dollar – Daily Candle Chart 1st April 2009
With Japan’s fiscal year end now firmly out of the way, the Tankan survey the worst on record and yesterday’s bullish engulfing signal, coupled with the BOJ’s determination to have a weak Yen, we should now see a breakout to the upside through the resistance...
Yen To Dollar – Daily Candle Chart 31st March 2009
Even as the markets awaits possibly the most important item of fundamental news on the economic calendar relating to the Japanese economy, Japan’s Q1 Tankan large manufacturers business conditions survey, to be released Apr 1, is forecast to tumble to -55 from -24 in Q4...
Yen To Dollar – Daily Candle Chart 30th March 2009
Friday’s down bar in the yen to dollar pair once again confirmed the strong resistance now built up just below the $99 region with yet another failure to breach this level adding to a long list in the last few weeks. This region is now...
Yen To Dollar – Daily Candle Chart 27th March 2009
Well done if you managed to take some pips in yesterday’s up candle which once again closed the session at the strong resistance level of 98.74 which is proving to be a major barrier to any move higher despite all three moving averages suggesting a...
Dollar Yen – Daily Candle Chart 26th March 2009
Yesterday’s candle confirmed once again how strong the resistance is proving to be at the current level and whilst the closing price finished above all three moving averages it simply reinforced the sideways consolidation of the last few weeks. I can only reiterate my advice...
Yen to Dollar – Daily Candle Chart 24th March 2009
Yesterday’s cautionary note turned out to be more prophetic than even I expected with the dollar yen ending the day higher with a wide spread up bar closing just below the 9 day moving average, a trend we have seen continue this morning with a...
Yen To Dollar – Daily Chart 20th March 2009
Yesterday’s wide spread down bar confirmed the bearish engulfing signal of Wednesday and temporarily pierced the 40 day moving average before closing marginally above on the day. The tone of the yen to dollar pair is now heavily bearish and it is only a matter...
Yen To Dollar – Daily Candle Chart 19th March 2009
Yesterday’s wide spread bearish engulfing down bar has given us a clear signal for our trading direction for the next few days and this momentum has carried through into this morning’s session, despite the fact that is a national holiday in Japan today. For a...
Yen To Dollar – Daily Candle Chart 17th March 2009
Yesterday’s candle provided little evidence of any firm direction closing with a tiny doji between the 9 and 14 day moving averages. This morning price action shows the yen to dollar pair flirting with the pivotal 99 level. Today’s data from the US regarding building...
