- 
- 
- 
Welcome,
Guest!
Technical
Forex Brokers
Trading Tools |
USD/JPY – “Mild” intervention?
0
votes
Mr. Munther Marji is the founder of The Technical Trader Analysis Services, which was founded in May 2003, and still generates technical analysis & forex signals on daily & weekly basis. He came to the world of forex as a broker in Dec 2000, .....
In spite of dropping 100 pips from Fibonacci resistance at 87.50, the price came back to break it, and it is approaching 88 this morning. We might hear later that this rise was caused by a series of small or “mild” interventions, in order to weaken the Yen. The matter of intervention continue to be important in these areas, and since the Japanese government do not announce that they did for w a while after the intervention, there is no way to predict when and where they are going to do it. Technically speaking, the price is heading now towards the top of the channel that is rising from last week’s bottom. This top is at 88.18, and it is resistance of the day. If broken the Dollar will continue to show strength, and will target the top of the supposed wedge formation at 88.58, and may be then we will see a test of November 23rd top 89.17. Support is provided by the rising trendline from this week’s low, which is currently at 87.29, breaking it would target 86.72 & 86.28.
Support: • 87.29: the rising trendline from Monday’s low. • 86.72: intraday top from last week. • 86.28: the bottom of the rising trend channel from last weeks bottom. Resistance: • 88.18: the top of the rising trend channel from last weeks bottom. • 88.72: the top of the supposed wedge formation. • 89.17: Nov 23rd high.  Next Analysis:
Content Provided by:
Forexpros
With a solid background in financial markets, our goal is to provide both novice and experienced traders with neutral and unbiased information on specific financial segments, including Brokers, Fund managers, Real-time quotes & charts, Courses, Books, Software Providers, Educational & ...
Disclaimer:
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.  Related Products  Price: $ 49.95 Overview Adaptation is the name of the game in long term trading success. Join Fernando Gonzalez ...
 Price: $ 49.95 Overview This course is more than simple rules, this class explores and shows you how to ...
|
|
||||||
How many analyses do you read on daily basis? |
||||||
 |
||||||
Nour Eldeen M. Al-Hammouri In this webinar Nour Eldeen M. Al-Hammouri will discuss the Inter-Market Analysis and markets relationships. He will ...
Karen Kizer In this session Karen Kizer will discuss the forex market for beginners. No one was born a forex trader. However, you ...
|
||||||
|
