USD/JPY Discussion

Quoting Warren Forex

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In The Last Few Minutes USD/JPY tested 103.96 and HIT 103.957 on my FXCM platform. It is now back to 103.85 Bid....

I think the HIGH is IN but NEVER sure at this time of day. Dow Futures still UP 40 so MBIA data before US Market open could be VERY BIG if it is really really bad.

At 5:00 AM EST, there is 4 hours and 30 minutes to go before NY open. Oil is still holding above $125 as Gold is down $5 or so.

Good Day All

Bruce

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Quoting lowyat82

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bro, actually where i can go to see when n wat announcement will b made?

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Quoting Warren Forex

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http://investor.mbia.com/phoenix.zht...9683&highlight=

NEW HIGH this AM just now at 103.995 at 7:25 AM EST

Technicals:

Title: USD/JPY intraday: resistance area at 104Summary: Update on supports and resistances.Story: Pivot: 104.1

Our preference: Short positions below 104.1 with targets @ 103.29 & 103.12 in extension.

Alternative scenario: Above 104.1 look for further upside with 104.45 & 104.6 as targets.

Comment: the 30-min RSI is overbought & the pair is approaching a strong congestion area.



Bruce

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Quoting Warren Forex

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We just touched 104.0005 on the FXCM platform.

MBIA results and it is NOT pretty ...

MBIA slides to huge 1Q loss on hefty charges

20 minutes ago
http://broadcast.ino.com/srv/www/del...971&n=ac95a3e5(AP:ARMONK, N.Y.) MBIA is posting a large first-quarter loss, as the struggling bond insurer took heavy charges to write down the value of certain liabilities amid continued deterioration in the credit markets.

Armonk, N.Y.-based MBIA Inc. lost $2.41 billion, or $13.03 per share, compared with year-ago earnings of $198.6 million, or $1.46 per share.

Revenue totaled a loss of $2.96 billion compared with revenue of $729.9 million a year ago, as net premiums written fell by nearly half and losses on insured derivatives soared to $3.58 billion.

Level 3 assets totaled $7.33 billion at March 31, representing about 22.5 percent of total assets.

______

AP Business Writer Jennifer Malloy

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Quoting pepbullish

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scyang, i put 103.74 but maybe i close before, depends.
If the price dont loss 102.60 in first 3,4 hours in sunday i will stay relax and close my position before nyse open.

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Quoting Warren Forex

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http://investor.mbia.com/phoenix.zht...3391&highlight=

We hit a HIGH of 104.048 on my FXCM platform and the Dow futures are up 40 now and USD/JPY trades at 103.83 bid. The ideal short for me was at 104.04 and now we shall see what the market does at 9:30 AM

I for one would not be surprised to see USD/JPY at 103.00 or lower by day end. It all depends on where the Dow ends. Tomorrow at 8:30 AM is US Retail sales, a market mover.


Bruce

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Quoting DutchTrader

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Back down to 102.60

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Quoting Warren Forex

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I like your style and your signature. Fundamentals with Technicals with Patience and Humility and Common Sense along with Risk Management makes for a winning FX trader and a Winner period...

Bruce

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Quoting Fx-fe Jaco

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my next target below 103 is 102.6 two last week support. what are you think about that?

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Quoting DutchTrader

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Thank you brother, I'm still learning.

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Quoting cesarnc

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