Oct 5, 2010

USDJPY lost additional ground last week as the Yen cautiously extended its gains against the Greenback after the last round of official intervention from the Bank of Japan that was seen a few weeks ago. The rate started out last week with a positive tone as it traded up to its weekly high point at the 84.39 level during Monday’s session after the Japanese...

Oct 5, 2010

BOJ Cuts Benchmark Rate and Unveils ¥5 trillion QE Plan The Bank of Japan took several measures in today’s meeting. First the central bank lowered its interest rate target to between 0% and 0.1%, lower than the 0.1% that it came in with. More importantly, the BOJ announced that it will expand its balance sheet by ¥5 trillion ($60 billion). The fund will be...

Sep 28, 2010

Weekly Forex Update: GBP/USD The Euro continues to surge against the U.S. Dollar, and recently broke through the previous ceiling at 1.3334 (which was the high from August 6). This move has now solidified the bullishness that was confirmed when the EUR/USD traded through the 200 period simple moving average at 1.3198. The EUR/USD easily broke through the...

Sep 28, 2010

(Please click on the forex chart thumbnail to enlarge) 9/28/2010 Forex Trading Technical Analysis (FXpath.com) – AUD/USD (a 4-hour chart of which is shown) as of Tuesday (9/28/2010) has just established a new 2+ year high and bumped up against key resistance in the 0.9650 price region after traversing a steep bullish trend channel extending back to the...

Sep 27, 2010

Last week’s trading saw USDJPY give back a portion of its gains made the previous week in the wake of the Bank of Japan’s most recent round of official intervention. The rate started the notably peaceful week out by opening on a firm note and trading to its weekly high point of 85.79 on Monday as Japanese markets closed down to observe the...

Sep 27, 2010

Forex Technical Update September 27, 2010 Tools: Simple Moving Average(SMA) 50-period (red), 200-period (bold, gray) RSI-14 with Simple Moving Average 5-period of RSI attached. Fibonacci Study Elliott Wave Principles Market and Price Action (patterns, candlesticks) Multiple Time-Frame Analysis AUD/JPY – Swing Projection to 81.80 4H: The 4H chart shows the...