We just had our first day here at the International Trading Expo in sunny Las Vegas. It was a very large turnout, and I met several readers of FX Street and this blog at the show. It was a great pleasure meeting all who showed up on this first day. The forex community came on strong for this event, as there were many exhibitors, speakers, and forex traders everywhere the eye could see.  Thursday will be filled with seminars and speakers. I will be speaking with Steve Nison on Thursday morning and afternoon, as well as on Friday morning.  I hope to meet any of you that might be here in Las Vegas within the next few days. More analytical updates to come!

James Chen

(Please click on the accompanying chart to enlarge.)

As shown on the accompanying USD/JPY daily chart, price action on this key pair has formed a large triangle-type consolidation, much like the EUR/USD has been in recent days and weeks. There is a slight technical bias for an eventual downside break on the USD/JPY triangle. If this occurs with sufficient momentum to breakdown below the 95.80 level, price could further descend to the 94.50 region. A break to the upside, on the other hand, should meet initial resistance in the 98.50 region.

Just a quick heads up. I will be writing updates on this blog from the Las Vegas Traders Expo. This will include technical analysis updates on different currency pairs, when time permits, as well as updates on anything special that might be happening at the show itself. Please stay tuned!

- James Chen

Hello all! It’s great to be back from a long vacation. But I’ll be heading back out again in a couple days, this time to Las Vegas for the International Traders Expo at the Mandalay Bay Resort & Casino. There, I’ll be giving a couple of presentations on forex trading with Steve Nison, the man who introduced Japanese candlesticks to the West. If any of you find yourselves in Las Vegas from November 19-22, please feel free to stop by the FX Solutions booth, where I’ll be hanging out when I’m not speaking. Hope to see everyone there!

- James Chen