Alan’s Forex Blog

EUR/JPY’s rebound fro 155.57, though strong, was still limited below 159.19 resistance. Subsequent sharp decline has pushed EUR/JPY back to this low again. Outlook is neutral for the moment as long as EUR/JPY stays within established range of 155.57 and 159.19. But a break below 155.57 low will confirm that…

GBP/JPY’s rebound was once again limited by 207.95 resistance and fell sharply since then. Break of 203.47 low indicates that fall recent decline has resumed. At this point, intraday bias will remain on the downside as long as 204.96 minor resistance holds and further decline is expected to next target…

USD/JPY’s fall resumes and accelerates after taking out prior low of 101.41, diving to as low as 100.01, pressing the important 100 psychological support. At this point, intraday bias remains on the downside as long as 101.07 minor resistance holds. Sustained trading below 100.00 level will encourage further fall to…

The dollar’s weakness resumes again and sinks to record low against Euro and Swissy. On the other hand, strength in the Japanese is even more apparent with USD/JPY making new 12 year low and is now pressing 100 psychological level. Yen’s strength is also felt strongly across the board with…

USD/CAD weakens further in early US session and break of 0.9856 minor support, with 4 hours MACD dragged below signal line, suggests that an intraday top is in place at 0.9981. Outlook is turned neutral for the moment. As discussed before, while, consolidation from 0.9709 might be still in progress,…

Action Insight Daily Report Dollar and Yen Stabilize after Violent Moves Dollar stabilizes today after yesterday’s stronger rebound follow Fed’s extraordinary 200b liquidity package, which also resulted in the biggest stock rally in five years. Traders scaled back some bets on a 75bps rate cut from Fed next week after the announcements but after all, that’s still not expected to be the end of the easing cycle. Further rate cut is still expect from Fed even if the bank does cut rates by 50 bps

As discussed break, AUD/USD’s break of 0.9277 minor resistance and the inner falling trend line suggest that correction from 0.9496 has possibly completed with three waves down to 0.9147 already. At this point, intraday bias will remain on the upside as long as 0.9229 minor support holds. Break of 0.9382…

USD/JPY retreats after rebound from 101.41 was limited by 4 hours 55 EMA. THough, with 101.41 low remains intact, outlook is unchanged. Consolidation from 101.41 is still in progress and further rise could be seen. But, as long as 104.17 cluster resistance (38.2% retracement of 108.59 to 101.41 at 104.15)…