June 8th, 2009 22:29:53 GMT

EUR/JPY technicals

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Modest uptrend still in play here on the hourly charts but the excessive volatility from last Friday between 136.30 and 139.20 may be signalling th the quiet times are over and we are in for more high volatility. Risk/reward would … Continue reading

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June 8th, 2009 02:10:11 GMT

HK shares buck the regional trend

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The Hang Seng index is down around 0.8% as opposed to gains of about 1% over on the Nikkei. Equity markets are having little or no impact on the JPY crosses today with EUR/JPY chopping around in a tight 137.45/95 … Continue reading

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June 8th, 2009 00:33:17 GMT

FX market in choppy consolidation

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The USD is maintaining its gains from Friday night and it seems to have the momentum on its side at the moment. We may have to wait for Europe to come in before we see any major moves as Asia … Continue reading

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June 5th, 2009 03:39:30 GMT

EURJPY short covering

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Another bout of EURJPY buying over the last 30 minutes has seen it trade just shy of 137.70. There is a mixture of sellers and stops between 137.75  and 138.00. Market cautious not to get ahead of itself before NFP. Immediate support … Continue reading

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June 4th, 2009 03:37:54 GMT

EURUSD offers towards 1.4200

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EURUSD is finding tough to get above 1.4190. There are offers between 1.4190-1.4220 and with EURJPY stalling above 136.50 this morning, its not looking to flash. Japanese account bought Euro off its lows this morning but has since stalled. The … Continue reading

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June 3rd, 2009 23:40:08 GMT

EUR/JPY technicals: hourly chart

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First level of resistance is the 38.2% retracement of last nights fall, which comes in at 136.30. If an hourly top forms below this level, then sell with a tight stop. Above there, the next level of resistance is the … Continue reading

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June 3rd, 2009 23:01:31 GMT

EUR/JPY technicals: daily outlook

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I still see a gradual bullish trend here but the disappointment for the bulls last night when the 137.50 break failed to follow through, may lead to a consolidation/retracement. The obvious target would be the 38.2% retracement at 133.80 with … Continue reading

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June 3rd, 2009 22:11:57 GMT

Trade of the Day: EUR/JPY

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EUR/JPY is, I find, the most tradeable pair during the Asian session. The break above 137.50 last night triggered a wave of stop loss buying and also momentum funds adding to existing longs. The sharp turnaround raises the danger of … Continue reading

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