USDJPY

Forex Trading: USDJPY testing support at 109.82

Greg Michalowski — Wed, 20 Aug 2008 09:48:05 -0400

Equals 200 hour moving average.

Forex Trading: USDJPY is consolidating as moving averages converge

Greg Michalowski — Tue, 19 Aug 2008 10:02:28 -0400

The USDJPY's major moving averages are converging at the 1h 109.79 to 109.89 level. The 200 hour moving average is at 109.79 while the 100 hour is at the 109.89.

A move below the low for the day at 109.65 should solicit more selling. A move above 109.95 should solicit buying.

Forex Trading: USDJPY has key support at the 109.71 level

Greg Michalowski — Mon, 18 Aug 2008 12:03:08 -0400

The USDJPY has been coming off a bit as the dollar moves a lower today as the stock market sells off and commodities rebound. The key level for the pair comes in at 109.71 where both the 100 and 200 hour moving average are located. WATCH THIS LEVEL TODAY.

Forex Trading: USDJPY has moved above the Long Term 50% retracement level

Greg Michalowski — Fri, 15 Aug 2008 09:40:43 -0400

Last night the USDJPY moved above the key longer term 50% retracement level at the 109.93 level (from the June 2007 high and the March 2008 low). The level was rejected yesterday but the break today, found new buyers who propeled the pair higher. The high so far has been 110.65. A close above this level today, would target 112.67 in the longer term.

Forex Trading: USDJPY holds resistance as per post

Greg Michalowski — Thu, 14 Aug 2008 15:03:57 -0400

The USDJPY came off from the key resistance at the 109.93 level as outlined in the earlier post. (CLICK HERE FOR POST). The low has been 109.67. The day will be winding down but a the key level on the upside will remain in tact. A break of this level later today will solicit more buying of the pair.

Forex Trading: USDJPY breaks through 50% retracement of long term move

Greg Michalowski — Thu, 14 Aug 2008 12:43:35 -0400

Stops hit, but watch for sellers/profit takers HERE. 50% is 109.93.

Forex Trading: USDJPY moving above the key moving average again

Greg Michalowski — Thu, 14 Aug 2008 11:22:16 -0400

Last hour, the pair failed to close above the key level. Now making another run higher. Purchase with a stop below 109.54 is a low risk play.

Forex Trading: USDJPY moves above resistance on the hourly

Greg Michalowski — Thu, 14 Aug 2008 10:37:21 -0400

The USDJPY has moved above the 100 hour MA. A close above the level on the hour will be bullish for the pair.

Forex Trading: USDJPY fails and moves back into neutral territory

Greg Michalowski — Thu, 14 Aug 2008 10:32:37 -0400

The USDJPY moved above the 100 hour moving average at 109.61 during the London session and squeezed up to 109.81 high. However, the move failed when NY opened and moved back below the key level.

The pair is now trading between the 100 and 200 hour moving averages situated at the 109.61 and 109.20 levels. A move above or below these key levels would be trigger points for extensions of the short term trend in the direction of the breakout.

Forex Trading: USDJPY tests resistance as well.

Greg Michalowski — Wed, 13 Aug 2008 13:52:15 -0400

The USDJPY shot up as well and tested key resistance at the 61.8% retracement AND the 100 hour moving average. The level should hold the topside. On the downside, I would expect support against 109.15.