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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 1558
Posted: Feb 22, 2010 5:00
Comments: 1558
Forum Topic:
JPY
Discuss JPY
im looking at the eur jpy h4 chart and i can see o bull divergence being formed with stoch and price action..
??
Where do you see USD/JPY in all of this? I see it testing 92.30s (in coming weeks) with Fed hawkishness, but then again, if risk aversion sets in, I suppose it could drop. Your thoughts are appreciated.
As tom is Friday, ppl wud like to close their Long position.... So wondering this pair to go done to 123.40 in Asia hours.....
It will come down to timing and the short levels. I am a little concerned about the 123.80 level.
Currently, I am watching the EURUSD carefully, and as unlikely as it seems, suppose it manages break above and head into 137 (now just above 13670), EURJPY should move up and possibly make a run into 124. Also, the pre-Aust open has a tendency to push things higher, and if that happens today, it could again push this higher.
Good Luck with your trade
If we look at the 1 Hr chart for EUR/JPY. we cud see tht there is a double top at 123.80.... Do u think it is good time to short this pair at this price.... Keeping in mind tht China is gng to increase their int rate.... Need ur adice....
Thks,
AVG....
@Ashraf: Could you drop a few ideas about why the JPY would drop if losses in the market broaden, please?
-pta-
Ashraf