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  • USD/JPY – Starts Week Off With a Bang

    From oanda.com

    USD/JPY pushed higher early morning, continuing the uptrend last week which ended near the weekly high. Price appeared to be topping around 97.0 post BOJ stimulus announcement, but USD/JPY pushed up significantly after the much weaker than expected US NFP print, pushing price ahead of Asian highs and ended the week above 97.5. This push sent price above the Upper Bollinger Band temporarily, with the next period sending price level back within 2 std dev. Currently, we’re still awaiting a confirmation for a test back towards the mean. Stochastic reading agrees with a lower push scenario, with readings pointing ... (full story)

  • #1
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  • Edited Apr 8, 2013 12:00am Apr 7, 2013 11:27pm | Edited Apr 8, 2013 12:00am
weekly chart rsi 14 overbought value 83.time to short...
for looking 100-200 pips send them back to rsi value 70-75.
  • #2
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  • Apr 7, 2013 11:44pm Apr 7, 2013 11:44pm
Lots'a people looking at 100, though one might take the contrarian approach and say it won't get there.
  • #3
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  • Apr 8, 2013 1:27am Apr 8, 2013 1:27am
So there'll be no gap closing, right?
when you can accurately predict the future, you leave nothing to chance.
  • #4
  • Quote
  • Apr 8, 2013 2:21am Apr 8, 2013 2:21am
Today's pull was in line of expectations since there were no net sellers - they have been taken out buy bulls - Now we will some reversal about CAD/JPY .94 level.
Bears now will enter the market anytime soon.
  • #5
  • Quote
  • Apr 8, 2013 2:23am Apr 8, 2013 2:23am
And a good indication is here:
http://macromon.wordpress.com/2013/04/06/overbought-and-oversold-markets-april-5/wir_overbought-16/
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  • Posted: Apr 7, 2013 10:46pm
  • Submitted by:
     Newsstand
    Category: Technical Analysis
    Comments: 5  /  Views: 3,180