This week has given us some big changes in the 1% point and figure charts. This chart is considered longer term so any changes in the trend is a big deal. It looks like the Japanese Yen (JPY) is getting weak and that is where we see many of the new trend changes. It also [...]
In the previous post (Forex Investing- Shorting the GBP/JPY) I showed you why I wanted to short the GBP/JPY. The order was filled at the entry point of 141.10 where I took a 2% position. The pair rallied up to 141.71 but then reversed down missing our stop at 142.05.
I took half the position off [...]
In the last post we asked the question “Has The JPY Trend Changed?” and there has been significant changes in the charts this past week. Many of the charts including the AUD/JPY, EUR/JPY, and USD/JPY have all broken the trend line. The exception has been the GBP/JPY which is still below the trend [...]
Since July/August of 2008 the JPY has made considerable gains across the board against every major currency. There are many fundamental reasons why people claim this happened with the most common being the unwinding of the carry trade. No matter what the reason all we care about is what the chart tells us. Lets take [...]
