Hot-Charts
USDJPY 4-week Cycles
by
Jun 24, 2009 14:06
| 182 Comments
USDJPYs 4-week cyclicals suggest renewed downside into month and quarter end amid medium-term USD weakness associated with Fed asset purchases and the defensive risk climate suggested by struggling equities. Note the last 3 major peaks and troughs in USDJPY occurred at 4-week intervals, which suggests that the next cycle low could take place by next week, calling up a a level near 92.50-93.00. While we could see modest gains in equities in the aftermath of todays FOMC statement, both equities and USDJPY suggest further downside ahead. USDJPY resistance capped at 95.90s, with interim downside target at 95.10, followed by 94.50. Current cyclical pattern suggests sub 94 and onto low 93s by mid next week.
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Ashraf
just now I initiated my short in NZDJPY 6547.Do you think that it can turn out to be a good trade?
Regards,
Rajib.
Ashraf
I initiated my short in USDJPY at 9650.and expecting a big move to come.Waht do you think Ashraf?
Regards,
Rajib.
Where do we go from here with the USD/JPY - OUCH
Ashraf
Ashraf
Last Friday was a real nightmare for me and my account :-( I loose near 12% of my account but I am unable to realize the reason behind the move in currencies and commodities. Ashraf, is there any chance that USDJPY touch 9620 level?And what is your view in US dollar Index?
Regards,
Rajib.