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Yen super-trend continues
The dollar continues its downward 30-year super-trend against the yen. The Bank of Japan (BOJ) appears unable to support the dollar at current levels and breakout below ¥80 warns of a decline to ¥70*....
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Japanese Yen
Apologies. I messed up the links at the bottom of the Trading Diary newsletter. For the correct link click here. Correct links are also available on the Trading Diary web page and under Recent Posts in...
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Euro rallies on hope of bank rescue
The euro is headed for a test of $1.40 against the greenback, on the hope that European banks will be re-capitalized after taking a haircut on the PIIGS bonds. There still appears to be some confusion...
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Forex: Euro and the Aussie dollar strengthen
The euro is testing resistance at the former support level of $1.40, in the hope that the bailout out-lined today will rescue the euro-zone from its debt crisis. We will probably read fairly disparate...
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Japanese yen
The Bank of Japan is taking measures to suppress the yen against the greenback. The long-term chart shows why their efforts are destined to fail: the dollar has maintained a strong down-trend against...
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Yen set for a major reversal
This is a 20-year (monthly) chart of the US dollar against the Japanese yen. The dollar has declined in a primary down-trend since early 2008. Long-term support at 80 failed to halt the fall and the...
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Yen breaks 5-year trend
The US Dollar broke its 5-year down-trend against the Japanese Yen. Penetration of the descending trendline from 2007 indicates that a bottom is forming. Breakout above resistance at ¥80 would signal...
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Japan: Nikkei falls as Dollar weakens
The US Dollar is testing support at ¥102 to ¥103 against the Yen. Breach of the rising trendline would strengthen the warning from a bearish divergence on 13-week Twiggs Momentum. Reversal of Momentum...
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Nikkei finds Yen support
The US Dollar found solid support at ¥101 against the Yen. Recovery above ¥103 would suggest an advance to ¥111*. Breakout above ¥106 would confirm. Recovery above the December 2013 high on 13-week...
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Aussie Dollar & Yen break support
Dollar strength is affecting not only gold and commodities, but even the strongest of the currency crosses. The Aussie Dollar broke support at $0.92 against the greenback, warning of a correction....
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Asia: Governor Kuroda bets on QE
Aggressive asset purchases by the Bank of Japan shows Governor Kuroda’s willingness to back his QE policy to the hilt. The Yen has weakened significantly against the Dollar over the last two years and...
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