EURJPY coiling in a narrow range

January 14, 2011 by · Leave a Comment 

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The EURJPY is trying to break lower, but just not ready to fall it seems. Watch the key levels for trading clues. The levels are converging.

EURJPY between support and resistance after sharp run up

January 3, 2011 by · Leave a Comment 

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The EURJPY has had a nice run up today from the lows. The move has taken the price above the 100 hour MA (blue line), the 200 hour MA (green line) but stalled at the highs from the last two days at the 108.91 level.  The subsequent move off the high has so far held the 200 hour MA at the 108.64 level. This keeps the bullish bias intact.  I expect sellers on a break below as the market longs liquidate on the failure to breach the ceiling at 108.91.  If support holds, look for buyers to reenter and make a run at the ceiling.

EURJPY: A techincal picture for the pair

December 31, 2010 by · Leave a Comment 

EURJPY. Watching 108.40 level

December 30, 2010 by · Leave a Comment 

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The 108.40 level is the 100 hour MA and a nice floor from last week earlier this week. The price in the EURJPY is in between the Goal Posts as defined by the 100 and 200 hour MAs. Earlier the price tested the 200 hour MA, but could not muster the courage to push through. Instead traders used the level to take profit.

Look for buyers with stops below 108.26-30 area. A move below this area, keeps bears fully in charge.

The NY Opening Forex Commentary_Dec 28th 2010

December 28, 2010 by · Leave a Comment 

The USDJPY fell sharply overnight. Comments from Finance Minister Noda failed to stem the selling in the pair. 

The EURUSD rallied overnight, squeezing shorts in the process.  The move above the 1.3201 level and then the 1.3224 level were catalysts for the pair.

USDCHF made new lows once agains but has moved above underside support.

These and more are discussed in the NY Opening Forex Commentary today.

NY Evening Commentary takes a technical look at the major currency pairs

December 27, 2010 by · Leave a Comment 

EURJPY at key level. Does the pair have additional upside momentum?

December 15, 2010 by · Leave a Comment 

EURJPY. The Bullish and Bearish sides for the pair

December 1, 2010 by · Leave a Comment 

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