AUTOREFRESH 
Risk on again, EUR/JPY the likely focus again in Asia
By Sean Lee || July 20, 2009 at 21:12 GMT
|| 16 comments || Add comment
As Jamie reported in his wrap just below, there are rumoured to be some knock-outs in EUR/JPY at or around 135.00. This should ensure a fair amount of liquidity today as players defend, attack and reload. USD/JPY had a quiet session in NY, yet again, and all the volatility in EUR and GBP came during the early European rush.
I am persisting with my short cable strategy but what looked like a really good average yesterday morning now looks pretty ordinary. I’ll start getting out above 1.6600 and go hide in a corner for a few days.
Good luck today.
Hi Sean There will surely be some news or event that will send cable & the rest back down the scale , I hope , Im short cable as well , I would think when Japan comes in they will want to do some selling at these levels , have a great day
Well I still share your thinking, Sean, and I’m currently short a few pips shy of where we are now.
The NASDAQ closed having had its best run since 1998.
Must admit, I didn’t expect the S n P to have a 6th straight day.
Summat’s gotta give soon
Morning Burt. My short term analysis forecasts a possible topping on the hourlies close to current levels. I am hoping this is correct as I hate losing trades. If it goes much above 166 then I’m going to take the hit and go look at some other trades. If this pair is really to go down then it shouldn’t be bouncing over 600 pips. Best of luck with yours Burt- 16485-16585 my range for the session.
Hi Lilac, apologies if it was me that persuaded you to have another look at shorting the cable! Have you any particular resistance levels you are watching closely?
HA! We all really want too go short but so far only you two have had the courage so far. @ .6634 I’ll hop in with you both.
I should qualify that as 30th June opening price and the start of the 7 day drop.
With the smell of the data that I have been reading coming out of the UK . I bet Gerry wants to go short as well
Well courage is one word, but there are others! Where would you put your stop if you entered at 6634?
SL bove the 30 June high
1.6634 is the highest close we’ve seen for quite some time with the last forsy above that level failing to hold. 1.6565 I have as the .764 retracement level of the Jun high – July low.
Txs mate. If Asia sell off below 165 I’ll buy 1/2 back and try and re-sell at better levels and improve my trading mood.
I’m actually keeping a closer eye on geppy for the moment.
and now the RSI’s fallen below the uptrend it knocked on just as the US closed.
My hourly MACDs crossed down this afternoon, the stochs are sort of goin’ the right way and in an orderly fashion
And it’s just kissed my EMA for the 1st time since Friday.
What I’d really like to see is a fandango below the 155.30s for starters.
Y’know – with one of those deep, dippy things
Beautiful trend line resistance on the weekly, still holding. I like it. Sharp fall from here to low 130s before final recovery back towards 180. No harm in dreaming.
Well … there’s the resistance.
Traeumerei
That’s three happy bunnies this morning then