Alternative Technical Templates.

[Jocelyn]

Prices are being shouldered (for now) this morning down around that lower channel noted in my last chart Ray.

Next pocket of localized support on this pair resides back at 123.80–125.0 ahead of 122.50.

If you’re holding shorts from above, or have initiated fresh shorts into the weeks opening prints, you’re sitting to the correct line of fair value.

Aggressive Spec model firms are feeding into shorts ahead of this weeks European rates gig.

There’s not a whole lot of key data streaming out of Japan this week, so traders will be focusing on the European news flows (majoring on fwd interest rate statement sentiment) for direction.

If, as expected, European rates continue to signal negative, Yen will attract inflows/appreciation.

If (European) rates are held steady & a "containing/fwd data watch" rhetoric is indicated by either the ECB/BoE, then risk appetite will likely push prices at the 91.0 swing handle on USDJPY & knock onto EURJPY toward 119.50 & GBPJPY target at 135.80.

Flows are currently being influenced by short-term spec players, until the rates/yield axis offers more (longer range) clues.

[Ray_1]

Last night positive data seems to make GY, EU and GU bullish. However I am still not too willing to take the bull side. Unless GY manages to clear 130 region, or else I will remain bearish on GY.

[mp6140]

WOW ---- youse guys really talk good !

HONEST !

mp

[Ray_1]

Originally Posted by mp6140

WOW ---- youse guys really talk good !

HONEST !

mp

Hi mp

Nice to see you drop by. Hope to see your contributions to this thread.

[daydreamer65]

Originally Posted by mp6140

WOW ---- youse guys really talk good !

HONEST !

mp

Yep leaves one in awe sometimes to know that the main protagonists
really know what they are talking about, it's quite refreshing compared
to some of the BS spouted on other threads.

[Ray_1]

BOJ statement seems to produce a retracments in GY. The tokyo session seems to be hovering around 128.25 to 126. 70 region, my two immediate support and resistance region. Break of either region will get me into a position. Maybe it is just me that is stubborn, I still think that GY has a bearish outlook.

[Tess]

As the title of the thread suggests, it’s a technical templates topic, heavily influenced around support & resistance criteria.

All templates are welcome including trend-line, channel or any other form of s&r compilation & it’s open to everyone regardless of their experience or knowledge base.

It would benefit all concerned if the thread remained on-topic & respectful to all individual’s views & representations.

I’ve said before, nobody has the monopoly on skill set, trading knowledge or successful profit returns.

Money is a great leveller & at the end of the day, does it really matter how a trader generates consistent profits in these markets?

Post away, have fun & enjoy yourself!

[Tess]

Originally Posted by Ray_1

Maybe it is just me that is stubborn, I still think that GY has a bearish outlook.

I agree with your bearish view on this pair Ray.
As Jocelyn noted further up, 135.80 is the axis on GY & will undoubtedly harbour decent tranches of profit stops all the way back to 141.50, the 2 lower high swings on this move down.

Yesterday's volumes (across the board) were absolutly dire. In fact they mirrored Xmas Eve activity for most of the day, due mainly to the extreme weather conditions in London restricting personnel from reaching their offices.

That definitely won't help conditions, & price moves tend to get exaggerated in low liquidity traffic.

Traders are also jostling for value ahead of the European interest rate meetings being held this week.

Existing profits will be pared/trimmed out & stops will be adjusted to account for any surprise moves or unexpected rhetoric from Trichet or King. Again, that will cause choppy price adjustments as sell orders are bought back & re-adjusted.

Firms will keep their (new) powder dry until later in the week & large bets will be few & far between. That naturally knocks onto tight, aimless range trading as bargain hunters or small speculative players ping-pong bets inside range extremes.

[johnnykanoo]

it seems longer term target would be around 119ish but on the 1 hour it is definatly moving sideways going into ny session. however price did hit the 61% level and is hovering around 50% now.

Ray and Tess thanks for the analysis

[kagein]

Originally Posted by Tess

Yesterday's volumes (across the board) were absolutly dire. In fact they mirrored Xmas Eve activity for most of the day.

Hi Tess,

How do you tell that order volumes were low? g/u dropped 200 pips from london open toward 12:00 gmt