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Yen Pairs On The Move

The big risk event from recent session was BOJ rate decision, but it only was of big importance because market participants assumed that the BOJ would follow up with an upgrade of his stimulus program. The BOJ did nothing however the yen pairs were sold of in a strong fashion way but this only happened during the NY session.
Figure 1. USD/JPY Daily Chart

What we saw with the yen movements was not a general risk aversion theme because the S&P500 and also the US dollar were not confirming this mo…
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independeceday32 avatar
independeceday32 2014年04月09日

No probem daytrader21, I think this armike speaking respectfully defending his opinion. Clearly not, stop hunting define the whole movement in the yen yesterday, and I think the same way that daytrader21 about this topic.Armike I think it is clear that in forex, even OTC, there are manipulations, a week ago came the news that the FBI was investigating big banks operating in forex, because their employees by messages through the Bloomberg or Reuters terminals, agreed positions market. This makes clear that there are manipulations in forex, but I think due to lower volume than other market.

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independeceday32 2014年04月09日

sorry, I wrote the name wrong .... Airmike.!!

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Airmike 2014年04月09日

Sorry guys,I think is onlz misunderstanding. My opinion is a bit damaged by professional deformation :). It is very hard to explain, when we are talking about different stuff. for example Market - Forex. Manipulation - SLH. I am talking about Forex and SLH and probability to see something like this by small investor eyes on daily basis. My opinion is that is no chance to see or prove any SLH technique just by the screening a chart. that's impossible. 99% of breakout spike are definitely not SLH, and movements about 100 points are not at all. Thats my opinion :)

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independeceday32 2014年04月09日

I agree with you Airmike, it is impossible for a movement of 100 points, is to SLH, and previously I did not mean that the whole movement yesterday the USD / JPY was due to SLH, it is impossible, I just used a colloquial talking.

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Daytrader21 2014年04月09日

Mike, I say the same let's just not get lost into the semantics and lose sight of the things that really matter.

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AUDJPY Stuck in Range

Since summer of last year AUD/JPY has been moving in a wide range zone without any define clear trend. From Figure 1 we can see how well defined this range zone was we has a range zone of 930 pips with resistance 95.60 at and support at 86.30. Inside this wedge based on Elliot Wave theory we should count at least 5 waves before we can move outside this range zone.
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Daytrader21 2014年04月05日

Update 1: Unfortunately we broke above the 95.60 resistance level that capped the market for such a long time. however if the momentum can't keep up and if the market turn back and close below that level than there is a change to see further consolidation.

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Daytrader21 2014年04月13日

Update 2: There is still hope for this market to turn lower as the fact that we can't break the 96.00 level and sustain the momentum is a clear sign that we're about for a correction. Next support stands at 93.66 we need a 3 wave move into that level for further consolidation in this zone, which is just 20 pips away from our target

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Daytrader21 2014年04月21日

Update 3: As expected the the 96.00 level has been keeping the upside move in balance and the fact that we couldn't break it for such many days it reason enough to expect the market to turn lower. Once we break the 95.00 support level we should see the momentum start accelerating to the downside

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