The pair EUR/JPY is currently testing the support at 110.
Indicators are mitigated.
The pair is still moving above its medium term bullish slant (purple line).
We continue to advise long positions as far as 109.23 is support.
The breakout of 111 and 112 will both give a new buy signal.
In case of return below 109.23, we will wait the breakout of 108.50 to advise short positions.
Trades Forex The Nelayan's Way: Trading Wealth Management Planner
Wealth Management Planner.
Trades Forex The Nelayan's Way: FREE Daily Potential ENTRY Signal Services
Need a signal for potential ENTRY coordinate? Analysis based on Currency Strength strategy, Support-Resistance technique and Candlestick morphology screening.
FREE - GRATIS - PERCUMA
3x daily during (from 19th March 2012):
i. Tokyo Open
ii. Europe/London Open
iii. New York Open
Signal relay thru Twitter (@nelayanforex) ONLY.
Register yourself automatically by following "@nelayanforex" today! **
By: Henry Liu
The better US economic data, Tuesday’s FOMC statement, the positive release of the annual bank stress tests, and the relative lack of news out of Europe, pushed risk sentiment higher this past week… Market’s sentiment changed after Tuesday’s FOMC statement where the Fed acknowledged the slowly improving economic conditions but there was no mention of anything QE3, in either the statement or speech by Chairman Bernanke.
Of course, with Fed Governor Lacker strongly suggesting that exceptionally low rates will not be required through 2014 while calling for tighter policy as early 2013 later on in the week, the treasury yield curve on the benchmark steepened around 25 basis points for the week, reflecting the move out of safe havens as overall yields hit their highest levels since last October… adding some consolidation in overall USD bulls…
In the Far East, China revealed on Monday that its trade balance plunged $31.5B into the red in February, the largest deficit since 1989, as imports overwhelmed exports. Chinese Premier Wen offered further commentary on his nation’s new 7.5% GDP target, which he claimed is needed to transform China’s growth to higher quality and also defended property tightening measures.
Market will be eyeing the open on Sunday, with this week’s focus mainly on the European news, we’ll see a bit more volatility in their currencies for sure.
Here’s the list of tradable releases for the week:
Tue March 20, 2012 – 5:30am EST – UK CPI y/y
Wed March 21, 2012 – 5:30am EST – UK MPC Minutes
Wed March 21, 2012 – 10:00am EST – US Existing Home Sales
Wed March 21, 2012 – 5:45pm EST – NZ GDP q/q
Thu March 22, 2012 – 5:30am EST – UK Retail Sales
Thu March 22, 2012 – 8:30am EST – CA Retail Sales
Fri March 23, 2012 – 7:00am EST – CA Core CPI
Fri March 23, 2012 – 10:00am EST – US New Home Sales
