nice wolfwave bro wanna share???
USD/JPY's break of 94.81 minor resistance suggests that retreat from
95.37 has completed and flips intraday bias back to the upside. Break
of 95.37 will target 100% projection of 91.73 to 94.78 from 93.07 at
96.12 next. On the downside, below 94.01 will indicate that more
consolidation would be seen but after all, short term outlook remains
bullish as long as 93.07 support holds and rise from 91.73 is still in
favor to extend. However, note that break of 93.07 will indicate that
rebound from 91.73 has completed and will turn bias back to the
downside for retesting this low.[actionforex]
USD/JPY's strong rebound today argues that recent fall from 97.77 is not ready to resume yet. Intraday bias is turned neutral again for the moment. As noted before, while consolidation from 90.12 might extend further and another rise to 92.52 cannot be ruled out, upside is still expected to be limited by 93.29 resistance and bring fall resumption. Break of 90.12 low will target lower channel support at 89.56 next. However, decisive break of 93.29 will indicate that whole fall from 97.77 has completed and will turn focus back to upper channel resistance (now at 96.44).[actionforex]
"P&F USDJPY5 Box Size 8X3 or(0.26%) HI/LO
Data 92.526 - 90.121 ~ 0 Month ~ 7.34 Day
Database 1525 records 91.443 (Last Close)
2009-09-16 07~55
2009-09-23 16~00 (GMT+01:00) Paris
92.56|~8||||________________________________________________________________|-0.04%|2.71%
92.48|~16|||__________________________________________x_____________________|0.05%|2.62%
92.40|~24|||__________________________________________x_o___________________|0.14%|2.53%
92.32|~32|||__________________________________________x_o___________________|0.22%|2.44%
92.24|~4O|||__________________________________________x_o___________________|0.31%|2.35%
92.16|~48|||__________________________________________x_o___________________|0.4%|2.26%
92.08|~56|||__________________________________________x_o_x_________________|0.48%|2.17%
92.00|~64|||__________________________________________x_o_x_o_______________|0.57%|2.08%
91.92|~72|||__________________________________________x_o_x_o_______________|0.65%|2%
91.84|~8O|||__________________________________________x_o___o_______________|0.74%|1.91%
91.76|~88|||__________________________________________x_____o_______________|0.83%|1.82%
91.68|~96|||__________________________________________x_____o_______________|0.91%|1.73%
91.60|~1O4||__________________x_______________________x_____o_______________|1%|1.64%
91.52|~112||__________________x_o_________________x___x_____o_x___________x_|1.09%|1.55%
91.44|~12O||______________x___x_o_____________x___x_o_x_____o_x_o_________x_|1.17%|1.46%
91.36|~128||______________x_o_x_o_____x___x___x_o_x_o_x_____o_x_o_________x_|1.26%|1.37%
91.28|~136||______x_______x_o_x_o_x___x_o_x_o_x_o_x_o_x_____o_x_o_________x_|1.35%|1.29%
91.20|~144||______x_o_x___x_o___o_x_o_x_o_x_o_x_o___o_______o___o_x_______x_|1.43%|1.2%
91.12|~152||______x_o_x_o_x_____o_x_o_x_o_x_o___________________o_x_o_____x_|1.52%|1.11%
91.04|~16O||______x_o_x_o_x_____o___o___o_______________________o_x_o_____x_|1.61%|1.02%
90.96|~168||______x_o_x_o_x_____________________________________o___o_x___x_|1.69%|0.93%
90.88|~176||______x_o_x_o_x_________________________________________o_x_o_x_|1.78%|0.84%
90.80|~184||______x_o_x_o_x_________________________________________o_x_o_x_|1.87%|0.75%
90.72|~192||o_____x_o___o_x_________________________________________o_x_o___|1.95%|0.66%
90.64|~2OO||o_____x_____o_x_________________________________________o_x_____|2.04%|0.58%
90.56|~2O8||o_____x_____o___________________________________________o_x_____|2.12%|0.49%
90.48|~216||o_x___x_________________________________________________o_______|2.21%|0.4%
90.40|~224||o_x_o_x_________________________________________________________|2.3%|0.31%
90.32|~232||o_x_o_x_________________________________________________________|2.38%|0.22%
90.24|~24O||o_x_o___________________________________________________________|2.47%|0.13%
90.16|~248||o_______________________________________________________________|2.56%|0.04%
90.08|~256||________________________________________________________________|2.64%|-0.05%
Column|~264|8_4_3_137_6_8_113_5_7_3_3_4_4_4_3_4_3_4_4_168_3_114_7_3_9_6_3_10|
Count|~272|
The yen is appreciating relative to the dollar, hitting 90.49, on speculation that companies are repatriating funds before the end of the fiscal first half. With the three day weekend there are a lot of yen purchase orders from exporters. This could provide additional strength for the yen for a nice short-term trade the next day or two. Buy yen.
Well from what I can see, it's been travelling south since August 10th, and I don't see it changing it's "mind" any time soon:
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USD/JPY
Sell area
112.00/112.55
Stoploss 115.46
Target1 109.85
Targt 2 107.40