USDJPY 100 day MA at 90.07 today
Written March 18, 2010 at 8:55 AM EST by Greg Michalowski
The price moved below the 100 day MA level overnight but bounced back (level is 90.07 today). The price moved back down to test the level off the CPI and 8:30 data and his back back again. The level will continue to be a key level for traders today. Look for buyers against the level with stops on moves back below.
On the topside, a move above the 200 and 100 hour MA at the 90.35 and 90.43 level will help the bias further and would target key resistance at 90.72.
Categories: Forex Trading | Tags: USD/JPY
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Morning Greg, can you expand on Ader’s comments… specifically what he means by the following:
“….the 2/10Y curve was “flatter on this and
we note 2s/10s support at 270 bp” and adds that “the charts are cuspy
in 10s for a potential break to the recent range lows near 3.53+%” vs.
the current 3.647% level.
I am not sure to be honest and do not want to mislead you. Greg
Is there any significance to the 100 SMA crossing the 200 SMA on the 1 day chart. Looking back at the 1 Day chart when this cross happens the market seems to move in that direction for 8 months at the least. Any thoughts? Thanks
I like when the 100 and 200 SMA cross with the current price at the same level. THis is what I call Three’s Company and suggests the market is at a crossroad. The market often likes to move away in a trend fashion from this area either to the upside or the downside..
If the 100 and 200 cross and the current price is far away, it may lead to a directional move, and it may influence your bias, but I would still focus on the hourly chart and what the moving averages are telling me versus what the daily chart may be saying. They will help me define my risk and it is risk I am interested in.
I hope this helps.
Greg