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EUR/JPY and GBP/JPY Look For Continued Appreciation

Posted on May 10, 2009 at 20:21 in Commentary, Market Analysis by Tim Salem

Greetings again, Everyone and Welcome to a New Week!

We look to a very light Economic Day Monday… so Price Action and Technicals will follow their own course without “Interruption” of Data Points, other than Bernanke’s Speech @ 22:30 GMT.

With the current Climate of Appreciation… we look for Corrections to materialize soon… although the Macro-Trends look to be reaching for further Appreciation.

The Dow, S&P 500, Gold, and Crude have similar Sentiment, and Equities are bidding up in the Asian-Pacific Rim and if they continue… U/S. Equity Futures will pick up the Momentum later on.

The Yen Crosses, as well as the Majors, are clearly in this “Mode of Appreciation”, so let’s take a look at the Two “Main” Yen Crosses of Euro Yen and Pound Yen on the Daily and the Hourly Views.

Give the Captures a Click, and Post-Time is 1:20 GMT.

 

 

 

 

 

 

Please join me in a few hours for the early “Currency Majors Technical Perspective” Report around 7:00 GMT, with a Blog Update to follow right after… as we monitor if these “Sentiments of Appreciation” do materialize as we move forward!

:-)

 

 

 

Tags: appetite, aversion, correction, Cycle, dollar, EUR/JPY, failure, GBP/JPY, Price, resistance, risk, support, time, Yen

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