USDJPY – A Bigger Yen Triangle

(Click on image for larger view) Hi All, On the 4th Aug (see article), we saw the Yen, having broken out of a triangle, retested it before dropping further (Green arrow). Incidentally, price stopped on a upward trend line which has been forming since Feb 2013. When moved to a bigger picture, we can see…

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Weekly Commentary: 4th August 2013

Previous weekly commentary: Commentary on 28th August 2013 Hi Readers, As mentioned last week, the USD index finally made a pull back since it’s decent on 10th July. The pull back can be a short term correction or it could be longer term upward trend continuation. To be honest, no one really knows what the market…

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Weekly Commentary: 7th July 2013

Previous weekly commentary: Commentary on 30th June 2013 Hi Readers, As mentioned last week, I was expecting the USD index to hit the next level of resistance, and it did. On Friday, price closed at $84.70. With that, my longer term bias for the USD is bullish. I would expect price to correct itself at…

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Weekly Commentary: 9th June 2013

Previous weekly commentary: Commentary on 2nd June 2013 Hi Readers, As mentioned last week, USD Index fell heavily and closed the week around $81.70. Price hit a support level around $81.40 before it close a little higher on Friday. With the support level – which was also a resistance in Nov 2012 – being tested…

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Weekly Commentary: 28th Apr 2013

Previous weekly commentary: Commentary on 21st April 2013 Hi Readers, The USD index continues its indecision. As mentioned last week, I wanted a break above the $83.50 resistance level but I did not get it. At this point in time, I do not have clear indication of where price is heading to. With that, I…

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Weekly Commentary: 21st Apr 2013

Previous weekly commentary: Commentary on 14th Apr 2013 Hi Readers, The USD index made a surprised turn around this week. Looking Price Action, you would have seen a long trend bar on Wednesday followed by a decent false break bar on Friday showing further confirmation of momentum. This happened on the USD index as well as…

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Weekly Commentary: 17th Mar 2013

Previous weekly commentary: Commentary on 10th Mar 2013 Hi Readers, The USD index reached $83+ and made a pull back with the week closing around $82.30. But is this a pull back or is it a reversal? Who knows? And I am not here to predict the future. So, I shall await Price Action for confirmation…

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Weekly Commentary: 10th Mar 2013

Previous commentary: Commentary on 3rd Mar 2013 Hi Readers, The USD index closed higher this week and, unfortunately, it did it without the pullback that I wanted. Again, I’ll be keen to look for a pullback before going long again. The following is my watch list for the week: (Click on image for larger view) USDJPY…

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Weekly Trade Commentary: 16th Dec 2012

Previous commentary: Commentary on 9th Dec 2012 Hi Readers, The USD index made a complete turn around at the start of the week. Unfortunately, it didn’t move any higher than what I expected. Instead, it just tanked. As mentioned in my last article, we need to learn to switch our market views (read article) quite spontaneously. With that,…

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Weekly Trade Commentary: 9th Dec 2012

Previous commentary: Commentary on 2nd Dec 2012 Hi Readers, The USD index made a low at the start of the week but failed to stay there. Instead, the weekly bar closed slightly higher (apprx 80.4). The low in the middle of the week is also a higher low (compared to the low from mid-Sept and mid-Oct).…

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