role reversal and usdjpy is dragging nikkei lower. nikkei stopped moving higher some time ago. vs nikkei alone fair value is around 117.10. a break of support at 118.38 suggests temporarary top.
gc sf 08:12:24 GMT - 11/20/2014
seems short term range
28/33 - 65/66 .. till this Nikkei Situation is resolved.
if that support broke i'd agree we would at least see down to 82-85.
turned into a much more interesting day than normal.
(still say the closing level will signal what happens tomorrow)
Paris ib 08:27:07 GMT - 11/20/2014
Trade data released overnight confirmed that Japan is eating Asia's lunch post Kuroda.
The China slowdown continues (surprise NOT), the iron ore slump accelerates and Aussie takes another hit. We have a full on currency based trade war taking place in Asia and the ramifications are likely to be ugly. Does China devalue next?
Interesting about the Nikkei. High was on the 14th of this month while other markets continued the celebration (of what?) of beggar-thy-neighbour currency devaluations? I forgot Japan was supposed to send all this money overseas. Yeah right.
You can see people have the mindset to buy $yen at every chance
but these xxx/jpy can chew you up and spit you out - if you overbuy them too much.
it really is going to boil down to what NYK does with these Stock Markets... and whether those re-align or not with $Yen.
london red 09:17:51 GMT - 11/20/2014
impressive rally but just come up to res at prev high of 71. needs to clear this for second test of 119 barrier otherwise 50 retest.
gc sf 09:48:58 GMT - 11/20/2014
just too much profit taking in the eur/jpy for the $yen to handle on its own.
GVI Forex Jay Meisler 10:15:40 GMT - 11/20/2014
SF great insight just now on USDJPY and EURJPY
gc sf 11:10:41 GMT - 11/20/2014
this will be answered today .... is $yen really a bull market or not .. it will make a new high near 119.10 if yes and close near there -- if not it will top out @65 and run down to 117.15-20.
I don't see how the resolution will be a close in this 118.20-50 area -- the flows/buying has been relentless - so either they double/triple up and force this back up .. or it is a liquidation.
Paris ib 11:15:13 GMT - 11/20/2014
sf - It's been a huge trend. You think we resolve this today?
nw kw 11:17:39 GMT - 11/20/2014
compare xaujpy to xauusd //xaujpy is at channel resistance so xaujpy needs to go to the xstream I dowt it
gc sf 11:31:18 GMT - 11/20/2014
100% yes imo -- Friday is usually the biggest day in $yen where the market never deviates by more than 20 pips... in direction.
so in NYK we will see Stocks align with $yen or $yen align with Stocks .. and we will see our 150 points tomorrow.
117.15/118.65 or 118.50/120 ... there really is nothing in between for me.
Also in xxx/jpy 185 148 102 93 ... just about every major cross big figure is in play today.
jkt abel 11:36:16 GMT - 11/20/2014
Nothing to worry about. Today, if anything, just provide a very good entry to go long some more, tomorrow will see a good blast to finish the week in a strong higher high.
GVI Forex john 11:50:49 GMT - 11/20/2014
EUR Pivot Points, Support and Resistance Levels, Support and Resistance. Chart Point tables. Click chart icon to store in browser tab.
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