USD/JPY attacks resistance early

View Comments

I was looking at the resistance on USD/JPY between around 98 and 98.20, and now USD/JPY has overcome it, 35/37 as I type.

Next resistance in this pair now 98.75/85, then 99.00, Support 97.50/60:

11

As always, comments welcome

 

Author: Eamonn Sheridan

Eamonn Sheridan worked with Bankers Trust Australia for 13 years as a Spot foreign exchange dealer, trading across all major currencies and all time zones. He rose to a Vice President position, running spot operations during the busy European time, leaving the bank just prior to it being sold to concentrate on running his own business in the ‘real world’! The markets, however, had him hooked – he continued to trade equities, CFDs and then on to futures, giving him broad experience across financial markets. He is now active in FX and equity index futures as well as writing for ForexLive™. Eamonn is a graduate of The University of Melbourne in Australia and lives in New South Wales.

2013-06-23T22:58:35+0000

All|Asia Pacific

USD/JPY

Eamonn Sheridan

9 Comments

  1. I’m planning in shorting at 99.00,

  2. Hi Mr. Eamonn,

    what about the resistance of AUD/JPY?
    thanks.

  3. Very few $ sellers this morning against the yen. 99 short could be a good shout.

  4. I was expecting that as well. Let see a retest for 10-18 area if it holds as support we might see 98.75

  5. im looking at a close over the 100 and 50 d sma before adding to positions. I think news out of japan will start to take over again going into july 21 eelections…and it will be positive for usd.jpy …I think the over all upward trend will continue.

  6. When the pair reaches 99, you think it will start a descending trend ? I could see it finish the week over 100..

  7. Steven, you have to explain what you mean by “trend”.

    Still pre-open, but Nikkei futures which were off 170 in the evening session Friday now looking up 240, so back and more. Whether that has *been* supportive of U/J so far, or whether it will be, is an open question to me. I don’t think the Nikkei is going to run away up today, but they may give that feeling early.

  8. trend was the wrong choice of word, sorry. I meant a descending correction/adjustment. What are you thought on the USDJPY pair today, Pip-eh-de-do-da?

  9. guys this is easy. One bank is printing like mad, the other is talking about winding down. Don’t overthink FX.

Top

© Copyright 2014 ForexLive™  |  Advertise With Us  |  Login To Comment  |  Sitemap

HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.

ADVISORY WARNING: FOREXLIVE™ provides references and links to selected blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect's individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and FOREXLIVE™ specifically advises clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Forex dealer. Any news, opinions, research, data, or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. FOREXLIVE™ expressly disclaims any liability for any lost principal or profits without limitation which may arise directly or indirectly from the use of or reliance on such information. As with all such advisory services, past results are never a guarantee of future results.