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Disclaimer: This is my personal Blog, reflecting my very own views on Forex , shares and commodity tradings. As such, all informations provided here are barely for information purposes only,. The author should not be held liable for any errors, incomplete information, delayed messages, or for any actions taken in reliance on information contained herein.This blog is new, being established on 06,May.2010. While I am executing trades, posting will be sent simultaneously. The date/Time indicated here is of US Pacific zone(++15 Hours for Singapore/KL/Beijing, Or ++7 hours GMT)

Sunday, October 17, 2010

Usd/Jpy---- will it reverse back toward 85.00 near term ??

Yen and Dollars are almost at their respective low interest (near 0%) in decades. . If any strong reversal is being effected on Dollars , then it may trigger the immediate BOJ currency intervention which may be extremely effective to further weaken the Yen .

The USD/YEN  has been lingering near the 81.00-82.00 over an extended period due to the imminent dollar weakness. And bearing in mind that Yen is excessively overbought for a long time.  Technically , it should be the right time for its reversal.

The reversal can be very violent (may exceed 300-500 pips ) within a short trading duration, As such, all Traders are reminded to be extra cautious on this possible abrupt reversal.

Any breaching over the level 82.90(61.8% Fibo Retr) will confirm its strong reversal, and follows by 84.26 (38.2% Fibo Retr), and then 86.35 (0.00% Fibo Retr)








USD/JPY Daily Chart 
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