Showing posts with label gbp/jpy. Show all posts
Showing posts with label gbp/jpy. Show all posts
Wednesday, October 6, 2010
Forex Technical Update 9/30/2010 - Greenback is Fighting Back as Gold's Record Run Stalls
Forex Technical Update 9/30/2010
The correlation of general USD weakness is very strong with the rally in Gold. As gold shows topping action, the EUR/USD and AUD/USD appear to be topping as well, and the USD/JPY appears to be bottoming. The GBP/USD reacted very strongly and is testing its channel support. Finally, we also see the Japanese yen firm up a bit, as the GBP/JPY continues to slide, and the EUR/JPY appears to be topping. Let's look at the charts to assess the significance of today's moves.
Fan Yang CMT
www.fxtimes.com
Thursday, September 30, 2010
Forex Technical Update 9.17.2010 - Japanese Yen after Intervention
Forex Technical Update 9.17.2010
The Japanese yen started the week mainly strengthening. Wednesday's intervention pressured the currency. As we will see, most yen-crosses are still within bearish or at most ranging context. The GBP/JPY, EUR/JPY, AUD/JPY, and CAD/JPY and USD/JPY are all ranging or bearish. The CHF/JPY pair is the only one with a bullish outlook. Therefore, the market might not respect the intervention and may want to test the pre-intervention level. Let's see what the charts say.
Fan Yang CMT
www.fxtimes.com
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