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  • #61
  • Mar 31, 2009 6:37pm Mar 31, 2009 6:37pm
Yen Trades Near Three-Week Low Before BOJ’s Factory Survey
Quote
April 1 (Bloomberg) -- The yen traded near a three-week low versus the dollar after posting its biggest quarterly loss since 2001 before a Bank of Japan survey forecast to show sentiment among manufacturers fell to the lowest in more than 30 years.
Quote
“The Japanese economy is doing very poorly in the current recession,” said Kathy Lien, director of foreign-exchange research at GFT, an online currency-trading firm in New York. “There’s no chance that Japan is going to be recovering without the U.S. economy or the global economy recovering first.”
Quote
Japan’s currency tumbled 8.4 percent against the dollar in the first quarter, the worst performance since the last three months of 2001, and weakened 3.5 percent versus the euro, the first quarterly drop since June.
Confidence among Japan’s large manufacturers dropped to minus 55 in the first quarter from minus 24 in the previous period, according to a Bloomberg survey of economists before today’s Tankan report from the Bank of Japan.
Quote
The euro rose for the first time in three days against the yen on speculation assets denominated in Europe’s currency will maintain their yield advantage over those in Japan even if the European Central Bank cuts borrowing costs tomorrow.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #62
  • Mar 31, 2009 6:46pm Mar 31, 2009 6:46pm
Nikkei likely to rise on Wall St but gains limited


Quote
TOKYO, April 1 (Reuters) - Japan's Nikkei average is likely
to gain on Wednesday, with banks such as Mitsubishi UFJ Financial
Group rising on upbeat news from Europe, while investors are seen
buying exporters on a weaker yen.
Quote
"The rise on Wall Street is likely to prompt market players
to buy back shares that were sold yesterday," said Kazuhiro
Takahashi, general manager at Daiwa Securities SMBC. "But gains
may be limited as investors don't have bullish views on the
economy."
Quote
The Bank of Japan's tankan quarterly corporate survey, due
before the market opens, is expected to underscore that the
Japanese economy is in its worst recession since World War Two.

But the tankan is not expected to have a big impact on share
prices as investors are expecting dismal figures, traders said.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #63
  • Mar 31, 2009 6:49pm Mar 31, 2009 6:49pm
nik225 - downtrending no support yet / not reversing.
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Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #64
  • Mar 31, 2009 6:58pm Mar 31, 2009 6:58pm
-58 vs -55 expected.. prior -24
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #65
  • Mar 31, 2009 7:02pm Mar 31, 2009 7:02pm
us/cad possible short.. 1hr double top..
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #66
  • Mar 31, 2009 7:05pm Mar 31, 2009 7:05pm
omg that was a huge move. gbp/jpy just tanked.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #67
  • Mar 31, 2009 7:08pm Mar 31, 2009 7:08pm
Quoting england33
omg that was a huge move. gbp/jpy just tanked.
gj uptrend still in tact..
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Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #68
  • Mar 31, 2009 7:12pm Mar 31, 2009 7:12pm
Quoting england33
gj uptrend still in tact..
5m 3m major volatility and hardly bullish at the moment.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #69
  • Mar 31, 2009 7:23pm Mar 31, 2009 7:23pm
BOJ March tankan: manuf sentiment worst on record


Quote
The financial crisis has hit Japan the hardest of any industrialised country due to its dependence on big exporters for growth, leaving the economy vulnerable to the global slump in demand for cars and electronics goods.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #70
  • Mar 31, 2009 8:22pm Mar 31, 2009 8:22pm
Japanese Companies Seeing A Rebound in Sales To China, India
Nissan Motor (7201.T) and Suzuki Motor (7269.T) are seeing strong sales growth in China and India. Nissan's joint venture Dongfeng Nissan Passenger Vehicle Co. is seeing brisk demand for Tiida and other subcompacts after China cut the automobile sales tax for 1.6-liter or smaller cars by half to 5% in late January. The Nissan joint venture's sales were up 51% YoY in February for the second straight month of record sales. Suzuki Motor saw its Chinese sales in February climb 19% to YoY above 18,000 units, the first time in six months. In India, Suzuki's sales recovered to 71,000 units in February for the second consecutive monthly record, and rebounding sharply from the 27% drop to 47,700 units in November. Honda (7267.T) also saw sales grow 12.5% to 5,400 units in February.

Basic materials firms are also boosting China exports. Mitsubishi Materials (5711.T) recently began exporting copper ingots to China at a pace of around 10,000 tons a month. At Pan Pacific Copper, a joint venture between Nippon Mining & Metals Co. and Mitsui Mining & Smelting (5706), copper exports to China this month will likely double from a year earlier. Japan's total copper exports to China soared 130% from a year earlier in January, lifting its total copper exports in that month by more than 70%. Tosoh(4042.T) plans to boost output of an insulation material for consumer electronics and homes as exports, which account for 70% of its production of the material, pick up, particularly to China. To meet improved demand from Chinese consumer electronics makers, Asahi Kasei(3407) has stepped up production of resin materials at a South Korean plant to almost 100% of capacity.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #71
  • Apr 1, 2009 1:49am Apr 1, 2009 1:49am
gj trend broken.. who knows..
could be volatile trade with the g20 meeting at hand.
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Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #72
  • Apr 1, 2009 6:08am Apr 1, 2009 6:08am
interesting thread.... Keep it up!

i'm particularly interested in the pf charts as i'm not versed in it....
  • #73
  • Edited 3:55pm Apr 1, 2009 3:42pm | Edited 3:55pm
Quoting supremeChaos
interesting thread.... Keep it up!

i'm particularly interested in the pf charts as i'm not versed in it....
sure... i haven't had time today having some technical problems. pf charts are most helpful in defining a long term trend. i don't know everything about them and what i do is experimental at times and not by the book. you can clearly see trends though. I just look for good places to draw my trendlines and look what would likely be support. if a price stalls at a certain price level from a downtend and builds above it i consider that a base/support or resistance if it's opposite. boxes also show breakouts at times. these things are seen on other charts but i feel sometimes the pf shows a clearer pattern because it's mostly base of price. also i don't use pf charts under 1hr. you'll find the higher time frames show more complete patterns and that's the beauty of it. also i've combined murrey math lines to gauge trend strength and targets. if the price can't get above below a murry line i consider it a point to work with just like supports and resistances. you'll find moving averages and many other indicators don't work with pf charts though so only use them to define the actual price not momentum or any other tech analysis by using ocilators. I do use ocilators and ma's but not with my pf charts. sometimes you'll see my trendlines cut through other price low/highs because if there's a pattern at a certain angle i would consider some of the pattern whipsaw moves but if the trendline looks good it usually works. some trends are harder to work with than others so sometimes you just have to make the best of it or wait for better days.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #74
  • Apr 1, 2009 4:01pm Apr 1, 2009 4:01pm
Quoting supremeChaos
interesting thread.... Keep it up!

i'm particularly interested in the pf charts as i'm not versed in it....
here's a little example.

eu in a range.. very simple to see here.
au broke a downtrend and now in new uptrend.
notice these are hourly to take out the clutter but you can use 4hr or higher even but don't recommend using shorter time frames because you'll just be chasing your tail so to speak.
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Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #75
  • Apr 2, 2009 11:14am Apr 2, 2009 11:14am
dow well above the critical 7500..
9000s?

4hr pf chart to spot medium-long trends
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Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #76
  • Apr 2, 2009 11:20am Apr 2, 2009 11:20am
here is the pf daily which trades just above the murrey 3/8.
boxes are building red which is up
boxes blue are down.
yellow is down when on time frames below 1day because of the way the boxes are drawn. i guess they get compressed. i didn't draw an uptrend because the trend is a little crocked (like our market lol) but you could draw an uptrend line below the red boxes of our slight uptrend.
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Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #77
  • Apr 2, 2009 11:30am Apr 2, 2009 11:30am
uc 1hr pf
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  • #78
  • Apr 2, 2009 11:32am Apr 2, 2009 11:32am
uc major support line right at 2/8 uc trading below 3/8.
1.2200 is also a nice round number. i suspect it won't go below it.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #79
  • Apr 2, 2009 11:39am Apr 2, 2009 11:39am
4hr, 1hr crude.
strong crude helping commodity countries. dow trading strong will drive up crude price. hence above 8000 will likely see above 55 crude.

(edit)
super trendline in oil just went back in action in the 4hr.
55 critical area and 50 as well for downtrend.
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Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #80
  • Apr 2, 2009 11:47am Apr 2, 2009 11:47am
30m pf
on shorter timeframe
breakout of 7858..
should serve as support if there's a sell off unless stays above 8000
which is you guessed it a psychological level (like a full moon).
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Before Forex I was tall, and clean shaven. Now I am an Ewok.
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