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USD/Asia selling increases downside pressure on USD/JPY

By   || August 18, 2010 at 09:19 GMT
|| 9 comments || Add comment

The Thai Baht for example is trading at 2 1/2 year highs against the USD and the selling of the USD in Asia is gathering momentum. China’s willingness to diversify out of USD-based assets and buy Asian is a big factor.

USD/JPY rallies are getting smaller and another test of 84.75 would seems to be getting closer.

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9 Responses to “USD/Asia selling increases downside pressure on USD/JPY”

  1. haniff ashburn on August 18th, 2010 09:23 GMT

    sean san

    is that in inverted head and shoulder on Fibre on H4 neckline at 129 08 ??

  2. N on August 18th, 2010 09:31 GMT

    am watching that closly, bit more of the right shoulder to develop but if the neckline breaks at 1.2730, it could be a interesting trade, a measure of the head and projected down gives a target of 1.2150.

  3. N on August 18th, 2010 09:35 GMT
  4. haniff ashburn on August 18th, 2010 09:36 GMT

    hi

    indeed correct right shoulder need to break on closing H4 above 129 29.
    this projects a high of 13360, i think.

  5. Sean Lee on August 18th, 2010 09:37 GMT

    Haniff, that would explain why there are so many stops reported above 12935

  6. N on August 18th, 2010 09:40 GMT

    Ah yes theres a smaller inverted H & S there aswell will be interesting to see which one plays out, as the inverted one will invalidate the larger one.

  7. Atje on August 18th, 2010 09:44 GMT

    Well there is some overhead resistance in EU at 2939 so need to breach first that before continnuing up I think.

  8. jjinoz on August 18th, 2010 09:47 GMT

    A failure at 1.3000-50 and move below current range lows would bring N s bigger picture into play or we could just see a host of stops hit on both sides and end up at 1.2850 again

  9. Dinko on August 18th, 2010 10:08 GMT

    Bla bla bla who know is rich NO TREND

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