Thursday 18 February 2010

USDJPY Possible failure to reach centre line.

As i have stated in my original introduction post ( right at the bottom of this page) i am looking for a significant US $ rally in 2010............
Since the inception of this blog we have seen Eur$ £$ both weaken and the $chf & $jpy both strengthen. The Swissy has done especially well but i have neglected it at the expense of concentrating on $jpy which has not performed so well and i missed my chances in $chf.
Well we could see a breakout here on the chart above and i am waiting and biding my time to see if we trade through the UMLP on the 240min chart above. I would wait for a clear break and possible retest but am watching closely. The Mod Schiff of the down sloping brown ML set is of course almost identically the same as the dotted blue ML set.
Price will retreat from the UMLP this session and then could come back for another try.

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