Greetings, Everyone and Happy Sunday!

Writing-Time is 8:30 a.m. for me, so it is 15:30 GMT.

We are back at it again with another rather volatile and “noisy” week behind us… as our Good Friends, Risk Aversion and Risk Appetite, move The Dollar and Yen around with Activity.

We can always have some “Probabilities” in terms of Market Direction, a change in Sentiment, or even Reversals when we see “Classic” Textbook Chart Formations and Patterns coming into View.

We are seeing Hourly Double Tops and Bottoms, clear Consolidating Ranges, and “Transitive Rollovers” of Support and Resistance in many Units, so we have plenty of “Anchored Structure” to open in Sydney later today.

Perhaps we all are tiring of this, and could simply use some larger Macro-Direction moving forward… as we are still in those large Ranges we spoke of a couple Weeks ago out on the Monthly Views.

Again…it is Summer so we have different types of Order Flows and Sentiment moving in the Markets during the “traditional” Summer Periods.

Here is The EUR/JPY on a Daily and Hourly View, where we see Confluence in Price Action and Sentiment.

We lean towards Dollar and Yen Strength with Risk Aversion in the Immediate-Term, as we see a “loose” Head-and-Shoulders Formation on the Daily… that is “translating” to a Double-Top that is holding on The Hourly.

Here are both Views, so give them a Click, and we will surely check in with them after The Open later today.

A Symmetrical “Run” here sets up the Formation nicely, as the 133.40’s is a significant Area that will be negated and not complete the Transitive Rollover moving back to Static Support at the 131.30’s… or we will Breach Price and see the 134.50’s/135.00 Handle in The Near-Term.

Please stop back by after The Sydney Open as we get moving with our New Week, and I look forward to seeing everyone then!

Greetings again, Everyone!

We are seeing The Dollar and Yen continue to Correct across most Currency Units, as well as Gold and Oil, despite continued Macro-Uncertainties about Global Economic Recovery.

Many Units are still finding “Basing” and Consolidating Behavior with Technical Formations such as Flags/Pennants and Horizontal Ranges, although within these Areas clear IntraDay Directionality is being Seen.

Similar to The Euro, Crude Oil is seeing a burst of Bullish Momentum, despite Price simply arriving to clear Static Resistance Levels within a larger Range. The Confluence of the July 2008 Weekly 23.6% Fib Variant and $60.50 Resistance is holding Price to the Upside, and if the Area is Breached, a new “Transitive Rollover” of Resistance-becoming-Support will be in Place, although any true Bullish Momentum in Crude will be considered in a :Counter-Trend” Fashion…even if Price moves beyond the $61.35 Range/Resistance Zone.

Here is The Hourly, so give it a Click for Various Levels.

Post-Time is 7:40 GMT.

The EUR/JPY is indicative of slight Risk Appetite returning to The markets, as we have our Equities Correlations back Intact… not to mention “Cross-Current” Correlations with Global Equity Exchanges such as The FTSE… which is up about 3% at The London Open.

Price looks towards the 130.60’s/80’s Static and Dynamic Resistance Levels, as Price Appreciation pulls out of the 127.80’s to 129.00 Hourly Range. Further Appreciation sees the 131.40’s in the Near-Term, while Failure to Hold the 129.00 Handle of Static Support will see the 127.80’s for multiple Hourly Tests of the Area.

If this Behavior is Seen, the Tests will weaken Support and a potential Breach towards the 127.00 Handle in the Mid-Term would be plausible.

The  “Currency Majors Technical Perspective” Report  has been published for Immediate-Term Details on The Majors, as well as the new Installments of The Fundamental Forex Foundations Section for Data Point Releases today and tomorrow of PPI and CPI.

The Retail Sales and Business Inventories Reports will be published as soon as possible, and I will have those Links for you as soon as possible!

Please join me for more Updates moving forward, especially as we move towards Data Point Releases at 12:30 GMT.

In the Interim, keep a Mindful Eye on CPI out of the U.K. in about one hour’s time!

Greetings again, Everyone!

While we are at The NYSE Open with The Dow and S&P opening a bit “Flat” inching up at a Fractional pace… we can still look to The Indices for our Correlations over these last few days of Risk-Averse Behavior.

We may even see some of what I call “Typical Tuesday Corrections” that we have seen over the past several months…where we have significant Depreciation across many Currency Units and Commodities… ( although as we have discussed, The Major Comms are still under a great deal of Heat…)

Testing various Levels across most Markets are still “The Plays of the Day”, and our two Major Yen Crosses are no different.

( Just as an Indication of this thought… we are already down after 30 minutes of The Open… )

So we check in with EUR/JPY and GBP/JPY on The Hourly Views, as it will be interesting to see where we end up later in the Day concerning our Macro-Correlations.

Here are The Captures for a Click with Commentary above, and Post-Time is 14:00 GMT.

While very Short-Term Corrective Appreciation may be seen across most Yen Crosses, we are still in Risk-Aversion Mode, so be sure to watch those Counter-Positions that you may favor. The Yen has been a bit more “Elusive” than The Dollar in this Area.

The EUR/JPY gives us an IntraDay Wedge Pattern to work with here, capped by out Longer-Term Channel Line. The Key in my personal View, will be to see if Price can Breach the Lower Trendline and move South through the 132.40’s. If this is the Case, than it open up the Mid-131’s in The near-Term as we monitor The Indices for Correlation.

The GBP/JPY also presents a little Continuation Wedge-Like Behavior here, where the 154.40’s “Transitive Rollover” will be The “Make or Break” Scenario IntraDay for the next few hours. 

The Weekly 38.2% Fibonaci Confluence with Static Resistance will be a Key Area to Breach out of the current Depreciation., although Price is already Negating our Lower “Wedge” Trendline as the 153.00 Handle becomes attractive in The Immediate-Term.

As always, more Updates to follow as we move around in our still large Macro-Ranges for all of you Longer-Time Cycle Viewers ( like myself ), and as always, check in with the IntraDay Views for our Shorter-Term Friends!

It is once again going to be an interesting Day, so please join me soon!

Greetings again, Everyone!

Dollar and Yen Strength slowly grind away at most Majors and Crosses, despite The Majors still being largely Range-Bound and in Consolidation from the IntraDay Views.

The Asian Equity Markets are down as The Nikkei closes down 225 Points, and The Euro remains under Pressure ahead of The ECB on Thursday. This may begin to “even-out” with a bit of Appreciation, as most Institutional Views will favor a “Neutral” Sentiment going into the Meeting and Decision.

Here are the Hourly Views of The EUR/JPY and another look at where we are on The Euro from our last Update at 2:00 GMT.

Give The Captures a Click for various Levels, and Post-Time is 7:15 GMT.

The Euro Yen sees an Hourly “loose” Triple-Top Formation here, as Price looks towards the 132.60 Area of Daily Static Support with The Yen Appreciation, as Price breaches Immediate-Term 133.50’s Dynamic Support.

Clearance there sees the 131.40’s with Clear Bearish Sentiment In favor at this point… with a solid Violation above the 135.00 Handle Resistance to see any Bullish Sentiment resume.

The Euro sees out Magenta Dynamic Support Line that we spoke of last Update with Precision, so Rejecting or Respecting the Level is something to be Mindful of going forward, as it is a “New’ Support Area.

A Clip sees the 1.3950’s and potentially the 1.3880’s in the Near-Term…while Bullish Sentiment will only be Seen with Conviction if Price can Clear the 1.4118/20 Resistance, and remain above the Area.

We will see how “Deep” The “slight” Risk-Aversion that we are seeing progresses, as we bring in several more Updates throughout the Day!

Please check the just-published  “Currency Majors Technical Perspective” Report  for more Immediate-Term Details on The Majors. and please join me soon for another Update!

Greetings Again, Everyone!

The Risk-Averse Dollar and Yen are now moving into Accumulation to Consolidation from the IntraDay Perspective, as Exchange Rates begin to slow and ease.

We move straight into The EUR/JPY from The Yen Perspective… and The AUD/USD from The Dollar Perspective.

Give the Hourly Views a Click as always… with Commentary above, and Post-Time is 7:00 GMT.

The Euro Yen finds a Bounce into Consolidation at the 132.60’s Static Support Area, as Price looks to the Immediate-Term Resistance at the 134.00 Handle. A Breach of the Support Level sees the 131.70’s and 131.40’s Support Areas in the Near-Term… while and Upside Beach sees the 135.00 Handle to Hold the Correction.

The Aussie sees Consolidation generally caught between the .7900 Handle and the .8000 Handle with even a “tighter” 50-Pip Range to .7950 as well. Price needs to clear the .8090 Resistance Area to regain Bullish Sentiment in the Near-Term… other Bearish Views look to Depreciate Price through the .7820’s and onto the .7750’s in the Near-Term.

For further Detail on how The Majors are working in these Consolidative Zones, here is the just-published “Currency Majors Technical Perspective” Report, and as always… I will certainly have more Updates as we move along!

Greetings, Everyone and Welcome to Tuesday!

With Risk Aversion clearly back in The Spotlight, my earlier Thoughts in yesterday’s Posts on The Yen finally being “The Leader” of our two “Risk Aversion Brothers”… as The Yen reverse the “Built-In Momentum” of General Weakness and uses it to Its own advantage.

The “Global Rhetoric” of late is surely still playing a Role with both The Dollar and The Yen Strength…and even with Global Equities hearing “Talk” of the recent Rallies being “Too Much Too Fast”… which of course will be Bullish for both of these Units.

Let’s check on some of the Yen Crosses and measure the current Deep Strength we are seeing in The Asian Session as of this Writing…. as we have plenty “Transitive Rollover” Areas to consider.

Here are the Daily Views of EUR/JPY and GBP/JPY with a rather Similar Perspective in the Immediate-Term for both Units.

Give the Captures a Click, and we have Commentary above as always…and Post-Time is 1:30 GMT.

The Euro Yen looks to the 133.30’s Dynamic Support to possible slow down this “Freight Train” of Price… although additional Strength may take us to the Trendline/Support Confluence Area as well.

Bearish Views surely enjoyed The Day… although taking Positions now would be Ill-Advised as Accumulation leading into Consolidation is highly Probable.

The Bulls may look to be Loading The Munitions” soon for such Attractive Price Points to work with… but just like The Bears… Observance is essential at these Levels to see how Price Behaves moving forward.

The Pound Yen sees similar Directionality, as Price is a bit “Shallower” on the Correction considering The recent Pound Strength… as opposed to the “Heavy Weight” of The Euro above…

The Ellipsed Area may may hold Price… as the 155.00 Handle is deeply Solid Support.

As always, please join me around 6:30/7:00 GMT for The “Currency Majors Technical Perspective” Report as we look into The Majors with Detail… as well as another Update where we will drill down to the Hourly Views as Asia marches on into London and Europe!

Please join Me then!

Greetings again, Everyone!

We see the other “Area of Focus” on the Current Dollar and Yen Intra-Day Weakness, as The Yen also follows several Key Areas and Channels moving forward.

Here are the Hourly Views of EUR/JPY and GBP/JPY with Commentary above, so give the Captures a Click for various Reference Levels.

Post-Time is 7:10 GMT.

The Euro Yen looks towards the Daily Static Resistance Area of the 138.30’s for a Larger “Re-Test” of the 139.20’s Resistance Level. If Price can be Held above this Area and form a New Resistance-Becomes-Support “Transitive Rollover” Area… then the 140.00 and 141.00 Areas are back In View in the Near-Term. Any Downside-Risk Corrections may be limited back to the 137.10’s Static Support, down to just slightly out of The Channel at the 136.50’s Dynamic Support Area.

While The Queen looks towards 1.6800 in the near-Term, Her Cross, Pound Yen, looks towards the 163.00 Figure in the near-Term on the back of some of that Pound Momentum. Continuation through The Figure sees the 164.00 Handle next, as any significant Corrections should be Contained in the Near-Term by the 159.00/158.50’s Static Support Areas.

As always, plenty of Updates as we move throughout the Final Trading Day of the Week, and for more Immediate-Term Detail on the Four Majors, please have a look at the just-published  “Currency Majors Technical Perspective” Report.

Please Join Me Again, and I Hope to See You Soon!

Greetings, Everyone and Welcome to a New Week!

We begin the Week with a relatively “light” Event-Risk Day… as The Aussies have a Bank Holiday so they are all at The Beach putting “ Shrimp on the Barbie”… and The EU and U.K. have light Data with Investor Confidence and German Factory Orders, as well as BRC Retail Sales and the RICS Housing Numbers.

With that being said, let’s move away from The Majors from Friday’s NFP and check on a few of The Yen Crosses.

First up is the EUR/JPY, followed by the GBP/JPY, and a rare Unit that we rarely see or discuss… The CHF/JPY!

Here are the Hourlies for Various Reference Levels with Commentary above, so give the Captures a Click as always.

Post-Time is 2:00 GMT.

The Euro Yen looks to Near-Term Appreciation with a Break of the Symmetrical Triangle ( despite the NFP Wicks on both sides… ). Clear Appreciation and a Hold above the 138.00 Handle sees the 140.00 Figure clearly in View.

A Correction on the IntraDay Level to the 137.00 Area simply has a High-Probability of attracting Buying Builds and increasing the underlying Momentum.

Similar Sentiment is found with the Pound Yen, as The Queen Herself looks to recover some of the Appreciation She gave up on Friday. In our Case here, The Queen (GBP/USD) will certainly propel this Cross if significant Appreciation is Seen… as The Dollar and yen still maintain their Appetite/Aversion Relationship.

Any Corrections back to the Ellipsed Area and 155.00 Support will, like EUR/JPY, have a propensity to attract Buyers at more attractive Levels.

The Swissy Yen also looks towards Appreciation, albeit with a bit more “Market Noise” and Volatility. Price still adheres to the Mid-Line Dynamic Support, and looks to Clip the Upper Channel Trendline and Static Resistance at the 91.00 Handle.

What the Crosses tell us is an interesting “Glimpse of Sentiment”… as The Dollar Strength on the back of NFP illustrates The Dollar is stronger than the Yen concerning Its other Currency Relationships.

Of course… we know this simply by looking at the USD/JPY Battle Itself!      

Let’s check in as we move along to begin our Week with more Updates, of course… and please come by for some Immediate-Term Details with The Majors for the “Currency Majors Technical Perspective” Report right around 6:30/7:00 GMT!

See You Then!…

Greetings, Everyone and Welcome to Wednesday!

The Major data Points of the Week now begin to transpire… and with the Deep Appreciation in most Units… as well as Deep Depreciation in The Dollar and Yen… These “Catalysts” of Data Points and Interest Rate Decisions will surely factor in to any “developing” Dollar and Yen Corrections as we move ahead.

The extensive Risk Appetite with the Pacific Dollars, Fiber, and The Queen are already beginning to “Temper” a bit as we are now seeing various degrees of Accumulation in Ranges from the IntraDay Views.

Despite all the Media “Rhetoric” of Green Shoots, positive Consumer Sentiment, and Surprising Housing Data… It Is… and Shall Be… Macro-Housing and Deep Employment Improvement that will be needed to emerge from the Crisis in which we all work within.

The ADP looks to -530K from -491K from last Month… and Non-Farm Payrolls has a Consensus of -530K from -539K last Month.

I do not know about You, but nothing there says “Green” to me…

It just says, “Shoot!… Another difficult Month for U.S. Employment…”

Seriously… my “Green Shoots” Analogy aside… the Prospect of 9.0% to 9.2% Unemployment is nothing to have a Party about… and the continual Rhetoric of a New Global Reserve Currency surely is not helping our Embattled Friend, The Dollar.

We check in ahead of the Asian Session here with The Pacific Dollars… as various Levels and Areas are Clear for potential “Points of Stress” Reversals.

Here are the Hourly Views of the Aussie and The Kiwi… and then we bring in the “Main” Yen Cross, Euro Yen for a visit with the newly-revived Euro and The Yen.

Give the Captures a Click, and Commentary precedes each Capture.

Post-Time is 23:40 GMT.

The AUD/USD may see a “Potentially Shallow” Correction…considering Its deeply Bullish Momentum lately on the back of the entire Commodities Metals Complex, and the RBA holding Rates at 3.00%.

The Brief Breach of the .8200 Handle has High-Probability to see a “Re-Test” of the .8323 High without Incident… as more Appreciation is seen in the Mid-Term as we look out a few weeks primarily driven by Macro-Dollar Weakness.

From the Immediate-Term, We still hold our Corrective Areas in the Elipses as Area of Magnetism… starting with the .8000 Figure.

NZD/USD sees A “Transitive Rollover” from Resistance to Support that is not Clear at this point… as a Resumption back into the L.R. Channel is favored in the Immediate-Term.

Clearance of the Channel Mid-Line exposes the Fib Variant Cluster at the Weekly 38.2% .6150’s Area.

The EUR/JPY sees a Breach of the Macro-Weekly Triangle/Flag Formation, and in the Immediate-Term concerning the Asian-Pacific Sectors, looks for probable 138.00 Contact.

Price holds this Upper-Triangle Trend Line, as the Static 137.45 Resistance looks to Test again from the Hourly Perspective.

As always, please join me for the 7:00 GMT “Currency Majors Technical Perspective” Report in a few hours, to be followed by a Blog Update as we move into the European Session.

I enjoy doing the 7:00 GMT Report and I hope it is beneficial, so I extend an Open Invitation for Thoughts and Commentary.

Please Join Me Soon!

Greetings once again, Everyone!

Our “Rhetorical” Question from our last Post is surely answered with the “Mini-Breaks” of the Flag/Triangles that we are currently seeing on the EUR/JPY, GBP/JPY, and AUD/JPY.

The “Rotation Effect” on the macro-View is surely In Play here… as slightly positive U.S. Equities finds Continuation into Asia, with additional Major Fuel given by Japan and their strong Industrial Production.

We will surely keep our Eye on the Inflows coming into Japan, as this is surely a “Positive” Boost the the Japanese Economy in the Near-Term… as we mentioned a few hours ago as well.

( I say “Positive”… as the Sentiment is fine overall… but we have the Inverse Correlation… Positive Japanese Indices will equal a weak Yen in this case… )

The European Equities pick up our “Throw the Ball Around the World” Idea, as the FTSE, DAX, and CAC all open in positive territory.

With our current Macro-Correlations “In Proper Order” with Equities and the Yen Crosses… Bullish Sentiment should continue.

We check back in with the Hourlies of all Three Units… but this time with No Commentary and literally “Naked” Captures.

Observe how almost-Identical Price Action is evident here… as the “Uniformity” of Sentiment provides a “Smoothness” that even our “Heavy Friend”, The Euro… is contending with nicely after all that Pressure this week.

Give the Captures a Click, and Post-Time is 7:45 GMT.

Of course… be very Mindful of Corrections here as these Trends look to continue…especially considering the Appreciation we have seen all week long.

It’s the Weekend… and You know what that means!      

The Big Boys are fueling up The Yachts for a little Cruise, so Profit-Taking will surely be Evident as we move forward, and at least leave us in some Continuation of tight little Ranges for the Weekend.

We shall see!

As always, I will return for more Updates as we prepare for the EuroZone CPI, and the U.K. Housing Data Points in a little while, and please have a look for some Immediate-Term Thoughts on The Majors with the just-published “Currency Majors Technical Perspectives”  Report!

I hope to see Everyone Soon!