Posts tagged 'JPY'

Our report of 22nd January highlighted a Bearish Head & Shoulders pattern that targeted 82.00. That point was reached during March and extended by almost 1 1/2 big figures before profit taking developed.That rebound regained virtually exactly half of the decline from January's high but also created what is now confirmed as a false positive break... read more

A Bearish Head & Shoulders pattern was completed in February with CADJPY targeting 82.00. That target was exceeded by almost 1  1/2 big figures but that negative tone has clearly ended. CADJPY reached a 16 month low in March with, since that time, buying interest dominating the cross since.  But until last week, a change to a... read more

CADJPY Update 12th FebruaryLast week's strong decline has confirmed the bearish view written here on January 22nd. In fact, the move has confirmed the formation of a Bearish Head & Shoulders pattern with a break of the neckline.  Although  immediate targets are 85.47 and 83.79, the negative Head & Shoulders formation has a projected target for... read more

Tuesday 21st Nov - As you will have seen the negative concerns expressed in this post have been confirmed with a close below the average. Our medium term bias for CADJPY has changed to bearish with initial targets of 86.45 and 85.47. CADJPY RSI signals produced a negative (dead) cross 3 weeks ago. That move was not... read more

Last week's CHFJPY decline took the market through the spot moving average and the RSI average. Although early follow through lows this week have not been maintained, our technical signals indicate scope for the downside to expand in the coming weeks.The equivalent Bullish signals were posted in April. Here the RSI golden cross confirmed marginally later... read more

Last week's tentative close in CADJPY above the 21 week moving average has been extended in early trading this week. The move above the average confirmed an earlier positive crossover in our RSI indicator.This follows negative signals provided in March that saw CADJPY decline by almost 4 big figures. Since April's low the cross has traded... read more

Last week's CADJPY decline continued a gradual series of lower weekly highs and the drift back from December's peak. The negative cross of the 21 week moving average confirmed the earlier break of the RSI indicator through its average.As you can see from the chart these indicators captured the bear trend that dominated the 3rd quarter... read more

Have you ever wondered which currencies receive the most trading action? The data for the following chart comes from a survey done every three years by the Bank of International Settlements (BIS).Note that trading volume adds up to 200%, because each currency trade has a pairing.Chart courtesy of: DatashownThe Chinese yuan is now the 8th most... read more

CADJPY has been in a clearly defined downtrend throughout 2016 (barring one false and short lived spike in April). That trend has been defined by the 13/21 week moving averages and the weekly Keltner channel.But our indications are that this trend has ended and a new positive bias is developing. RSI gave a positive cross through it's... read more

..CADJPY remains in a negative trend but this week's firm rejection of 4 year lows is asking some questions of the cross.The 21 week moving average capped CADJPY during May and early June and it was a negative move of the RSI beneath it's moving average that confirmed a bearish tone for the cross in mid-June.... read more