Eur/JPY

Just noticed FXCM has a -7 pip spread on Eur/Jpy, in case anyone would like to hit it and see if it's for real....

Gone now....

161.25 taking a long here looks as if its exhausted so far has failed to make a lower low expect a return to 162.50

Its at 161.03

well thats not encouraging

Bounced off the 160.85 support, so your long might have some life in it.

ok so far support has held woo-hoo

Need a convincing break of 161.20

run forrest run

stopped out at break even

The bias is still down, I'd follow the equities indexes to see what the direction will be. They tend to correlate to the EUR/JPY

I follow my system,yen should weaken

Im talking about today.

so far we have failed too produce a lower low lower than the previous low possible exhauastion

ok let's try this again long 161.00

exit + 7

if we get back down to 161.00 perhaps we'll see a lower low could get interesting

160.94

I agree 59frnder (btw, hope that refers to the guitar, and not some random car part My own inclination is further down (as hedge funds etc. continue lightening up to cover losses elsewhere)- the real test should occur around 160.60 - The week itself might be a bit odd, as it is one of the three big holiday weeks in Japan. That may have had it's biggest impact last week (helping push the sell-off), as well as the fact we are getting close to the next BoJ meeting (Aug 23?), and the end of the Japanese fiscal semester (end of September). To say nothing of European money woes....

Like I was saying the bias is down, support at 160.85 was breached so I'm looking at 160/159ish again in the London session. Unless the Japanese find religion again and start buying.