GFSignals team provides a week forecast for USD/JPY
+ 3854 pips - this is the trading result our forex signals providers made for the last week. More details at our web-site.
[b] Last week the pair totally recovered after Friday the 7th fall. No one of our scripts was fulfilled exactly, though the third one (20%): A recovery up to 117.00-118.00 started to run. In the whole more than 200 pips rise for the week. Now we see a triangle on the chart with upper limit at the 116.00 level area (immediate gain).
Script 1 (60%): Correction fluctuations within the 113.00-116.00 triangle.
Next week correction fluctuations within the 113.00-11.600 triangle are expected. But if the triangle margins are broken out two others scripts will be executed, though a movement to higher/lower levels must not be ruled out.
Script 2 (20%): A decline towards 111.60 level.
This script is possible after the breakout of the bottom triangle line at 113.00. It is quite possible a deeper decline.
Script 3 (20%): A rising up to 117.00-118.00 area.
This script is possible after the breakout of the upper triangle line at 116.00. It must not be ruled out the further rise shortly hitting higher levels.
Resistances
116.00 - the upper triangle line.
116.50/117.20 - the local August/September resistance.
119.90 - August high.
124.10 - the year and longstanding highs.
Supports
113.00 - the lower triangle line.
112.60 - September low.
111.60 - August low (2007 low).
109.00 - May 2006 low.
Read more Forex news and forecasts at our Forex blog.
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Joined Jul 2007
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Status: Just another 21 year old amature...
|356 Posts
HI I was wondering, if their is a drop of .25% in interest rated doe that mean that the dollar will depreciate against all currency, such that this currecny pair will decrease because one dollar will now get you less yen. I theorized that a decrease in interest rates, will mean investores will sell the USD for currencies that have higher interest rates, in return this large selling will lead to a decrease in currency value and possibly lowering this pair.
What are your guys opinions?
"Don't work for your money, but let money work for you."
i am a new trader who has dumped all his money into currenices. i am trying to figure out the usd/jyp pair after the fed came out with there decision. can someone help me?
thanks in advance!!
i am a new trader who has dumped all his money into currenices. i am trying to figure out the usd/jyp pair after the fed came out with there decision. can someone help me?
thanks in advance!!
Ignored
Congratulations on your investments...The first reaction to the news by the market was a strengthening in the yen as the U.S. currency appeared less attractive with their rate cut. However, the usd/jpy turned around and followed equities as it has been most of this year, not to mention the U.S. still has a substantial advantage over the yen with it's interest rate still 4.25% above the bank of japan's. The best currency pairs to take advantage of the rate cut, was to go long the eur/usd or the cable as they have competitive interest rates. This cut in interest rates has also spurred traders to once again take up the carry trade as the yen was the big loser for the day. I hope I answered your question
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Joined Jul 2006
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Status: Forex Taoist
|243 Posts
I wasn't judging you in ANY way. I wanted to only tell you things you didn't know, and wasn't interested in wasting your time. For instance, I could probably give you a few thousand words on the importance
of the FOMC, but if you already know that, it would be wasting your time...wouldn't it?
Hard to help someone who won't give a person even a basic idea of how much knowledge they have. In this business, education is wealth, more so than even dollars. Money comes and goes, but no one can ever take what you have been taught.
No, I haven't made 10k in the last two weeks. I have, however, been in profit every week for two years. I'm content with that.
thank you maxsmart. you were a big help!
jason..sorry, i thought you were being rude to a new comer, my bad!!
thanks guys
i look forward to talking to you soon.
Congratulations on your investments...The first reaction to the news by the market was a strengthening in the yen as the U.S. currency appeared less attractive with their rate cut. However, the usd/jpy turned around and followed equities as it has been most of this year, not to mention the U.S. still has a substantial advantage over the yen with it's interest rate still 4.25% above the bank of japan's. The best currency pairs to take advantage of the rate cut, was to go long the eur/usd or the cable as they have competitive interest rates. This cut in interest rates has also spurred traders to once again take up the carry trade as the yen was the big loser for the day. I hope I answered your question
i am a new trader who has dumped all his money into currenices. i am trying to figure out the usd/jyp pair after the fed came out with there decision. can someone help me?
thanks in advance!!
Ignored
Word to the wise...... When I began my FX career I earned 5k my first day and thought I was invisible. I was up for a while and then one day lost 12k in a few hours and then proceeded to lose 60k or so over the next several months earning 2k one day and losing 3 the next. It is easy to think this is a simple way to get rich quick and it is if you have a lot of luck and make the right trades. Most would probably agree the best way to earn wealth with this crazy market is to be conservative and grow your wealth slowly. Stick to your rules because the minute you go against them it will haunt you.
I hope that doesn't sound condescending but it is advice offered from learning the hard way. It's tough to see even 10k lost in the abyss let alone substantially more.
Good luck, it sounds like you have a good thing going.
Word to the wise...... When I began my FX career I earned 5k my first day and thought I was invisible. I was up for a while and then one day lost 12k in a few hours and then proceeded to lose 60k or so over the next several months earning 2k one day and losing 3 the next. It is easy to think this is a simple way to get rich quick and it is if you have a lot of luck and make the right trades. Most would probably agree the best way to earn wealth with this crazy market is to be conservative and grow your wealth slowly. Stick to your rules because the minute you go against them it will haunt you.
I hope that doesn't sound condescending but it is advice offered from learning the hard way. It's tough to see even 10k lost in the abyss let alone substantially more.
Good luck, it sounds like you have a good thing going.
Ignored
i know what your saying, thank you!!
all i am looking for is knowlegde and a better understanding from everyone. i know i can lose everything on a drop of a dime. sorry if i pissed anyone off, that wasn't my intention. i just want to learn.
the Euro should at least test 1.40 and I think there is room for a movement to at least 1.41 perhaps by the end of the week. However, there is a downside risk in the immediate short term for the euro as the market may consolidate. But all in all, I see nothing to stop the euro's advance for the medium term. Look to tomorrows housing numbers. Weak housing data and a decrease in inflation may propel the euro higher.
the Euro should at least test 1.40 and I think there is room for a movement to at least 1.41 perhaps by the end of the week. However, there is a downside risk in the immediate short term for the euro as the market may consolidate. But all in all, I see nothing to stop the euro's advance for the medium term. Look to tomorrows housing numbers. Weak housing data and a decrease in inflation may propel the euro higher.
Ignored
thanks so much for your help. and i recieved your message...thank you!!!!
i hope you don't mind me picking your brain.
