Greetings once again, Everyone and Welcome To Wednesday!

Let’s continue our numerous references and discussions to our Two “Risk-Aversion Partners-In-Crime”, The Yen and The Dollar.

Similar to my enjoyment and use of Market Correlations… we always must be aware of the “Caveat Emptor” that drives these Two as well: The Correlation Activity moves In and Out of Each Other with Consistency.

In the same fashion that we are mindful of, say, The Dow and S&P Correlations to The Yen Crosses… we are always Mindful of the fact that ALL  of these Units must first “Stand Alone” with their own characteristics… as their Correlating Activity ebbs and flows.

Let’s check in with The Yen as a Whole… and first up is my Friend and Colleague here on FXstreet, Valeria’s Favorite Unit, The Dollar Yen!

( P.S. - Do not tell Her this…  She will leave Buenos Aires and track me down in Phoenix… Body Parts will be strewn all over The Desert Southwest… as I am consumed by the 4000-Degree Heat! … hee hee…     ;-)

With all of my sarcasm aside, The Yen is surely ruling the Day over The Dollar in today’s Work in terms of coming off of our Asian-Pacific Sector Thoughts on The Asian Bourses picking up yesterday’s Bearish Sentiments.

For a bit of Perspective, let’s check in on The Monthly View of USD/JPY, where seeing The High- 80’s Area of last December and January is certainly plausible… ( although this is unlikely without a significant prior correction being a Monthly View).

Give The Captures a Click for Various Levels of Reference and Commentary, with Post-Time being 6:45 GMT.

The Daily gives us more Clarity to work with, as Price remains in a Wide Downtrend Channel here with Dynamic Trendlines on both sides. Price continues to Breach significant Daily Static Support Levels,  and the Static 93.50 Support Area is certainly In View.

The Hourly shows the Breach of the 78.6% Fib Variant of the Full January 1995 79.76 Low to the 147.76 Highs as a Confluence Area.

Surely a very Long-Term Fib View here… although it does remain Valid in Illustrating the Deep Yen Strength we have seen since April of this Year.

My 6:30GMT  “Currency Majors Technical Perspective” Report  shows this exact Immediate-Term Bearish Sentiment with our “Four Major Siblings” as well that we are all very familiar with lately!

Of course, we will see what “Interesting Rhetoric” emerges from The G-8 today as we move through our Updates today… with the possibility of seeing some Accumulation leading to Consolidation at least in The Immediate-Term across The Markets.

If The Yen is any Bellwether of Indication though… The Idea looks to be off in the Distance a ways, doesn’t it!

Greetings again, Everyone!

The GDP comes in @ 5.5% and the Weekly Jobless Claims rise by 15K with the “Seasonal” End-of-the-School-Year Cycle as the kiddies arrive for Summer Break, and we see Layoffs, RIF’s, and Transition in the U.S. Educational System.

( Of course…not the only Sector for Claims here… but Educational Employment is a major factor here… ) 

Initial Reactions to the Data sees Dollar and Yen Strength, as Risk Aversion slides back in as a Factor,  as The Fiber eclipses our Lower Trendline from the April 22 Lows… as well as using it for Dynamic Support currently at the 1.3910’s Level.

Our Bear Flag is still “In Progress”, unless Price relinquishes last hours’ Gains and Clips the 1..3883 Dynamic Magenta-Line Resistance there…

 Here is the Hourly Capture for a look at Levels, and Post-Time is 13:20 GMT…. with U.S. Equity Futures bidding a bit lower as we head into The NYSE Open.

We will check on this “Disconnect” with Gold and Crude Oil Correlations moving forward, since we have Appreciation so far with those Two Units… unwinding in accordance with current Dollar and Yen Strength from the IntraDay View.

Please join me soon!… there is plenty more to come!

Greetings again, Everyone!

As The Euro and other Majors work with slight Dollar Strength to begin the Week, most Yen Crosses are finding the same Behavior with The strengthening Yen.

Despite rather “Negative” Data Points out of Japan last night, we can recognize that the Strength in both of our “Risk Appetite/Risk Averse Brothers” is due NOT to their inherent healthy Strength… but perhaps more to the Unhealthy Uncertainty of their Base Units.

Of course, Euro Yen would fits this Descriptor, with all that ‘weighs” on the Euro today, but it is more of a Curiosity with say, the “Stronger” Base Currencies such as the Aussie in AUD/JOY and even The Queen in GBP/JPY.

Let’s pull up the Hourlies and see where we are, as The U.S. Equity Futures are bidding lower which may hold Its Correlation to The Crosses as we open in about 10 Minutes time.

Give The Captures a Click, and I have Commentary above for you… Post-Time is 13:20 GMT.

The Aussie Yen finds a clear Corrective Bounce from the 76.00 Daily Static Support Area, which certainly may be Breached in favor of the Dynamic Supporting Area with the Magenta 75.30’s Level. A resurgence through the 76.80’s will find, perhaps, some Bullish Builds coming in from the initial 76.00 Support, and continuing through to 78.20’s Dynamic Resistance in the Near-Term.

Pound Yen sees solid Bearish Hourly Momentum, as the Daily Head and Shoulders Formation is coming to Fruition as Price heads to the 154.80’s “Neckline” of the Formation for Static Support.

Please join me again for more Updates as we move through this somewhat “quiet” Day… where we are already seeing some “Muted” activity in expectation of this Weeks Fed Meeting.

See You Soon!

Greetings once again, Everyone!

We are about 10 Minutes into The NYSE Open, where Equities and Indices are bidding slightly higher on overall Accumulation that has Clipped Immediate-Term Risk Aversion carrying over from Asia into The London/EU Sessions and into The U.S.

The BRICS Summit is underway in dealing with what may be considered “The True Foundation” of World Economic Hierarchy”… as Brazil, Russia, India, and China surely are viewed from a Long-Term Perspective and in The Near-Term… largely have massive Impact on The “Parallel Markets” of Commodities Markets moving ahead.

The Fiber finally sees a bit of Weight off of Its Back as German ZEW gives it a much-needed Boost, but still… overall…in my Personal View… The Risk-Averse Dollar Rally is somewhat “Transparent”.

While we have seen Dollar-Positive Rhetoric out of China and Russia within the past Week, we must also realize how “Shallow” it can be being a Major Factor in Yesterday’s “Corrective Day”.

Russian President Medvedev and Its Finance Minister Kudrin seemingly have a different “View” of The Dollar as the World’s Reserve Currency overall as Medvedev’s Rhetoric seeks to “downplay” The Dollar while Kudrin has no Issues with it.

In my View… China is the Real Key hereat the BRIC Summit… since It is the “Economic Powerhouse” with whom the most “Weight” carries concerning Dollar Sentiment.

Even so… ALL of this Rhetoric is providing an Unstable Foundation for Dollar Sentiment since The Rhetoric is in the Spotlight in the first place… hence… the overall Trend Resumptions we are seeing/may be seeing with most Units moving forward.

Here are The Hourly Views of The Fiber and The Pound Yen with Commentary above… so give the Captures a Click for Various Levels of Reference, and Post-Time is 14:00 GMT.

The Fiber looks to an IntraDay Hourly Uptrend Correction, as Price sees 1.3850’s Dynamic Resistance in the Immediate-Term now. Clearance of the 1.3630’s Resistance is need and if maintained… Price sees the 1.400 Handle easily In Sight.

Pound Yen sees The Risk-Averse Status holding more Validity as most of The Yen Crosses are still seeing Yen Strength on the general sense. Continuation here sees the Static Daily Support at 158.54 being Breached with the 156.50’s/60’s clearly In Sight if Momentum continues.

Equity and Index Correlations are “In Check” with these Crosses, so keep a Mindful Eye on them as we move along.

Of course… back with more Updates as we move ahead so please join me as all of You are always deeply Welcome!

Greetings Again, Everyone!

We see plenty of Weight providing Pressure to the Euro as we Bounce off of Daily Dynamic Support @ the 1.3900 Handle. We remain caught in the IntraDay Range, as German Borrowing Issues weigh on the Unit, as well as subtle Corrections in Crude Oil and Consolidation in Gold.

While the Macro-Views of Commodities are surely due for Bullish Appreciation in the Longer-Term… in the Immediate-Term, we are still working within IntraDay Accumulation Ranges.

The Dollar Strength is Isolated in this case, as It dominates the Support-and-Resistance Range of the Euro… but is Eclipsed by a Breath of Fresh Air with The Queen in appreciating to the 1.600 Handle and trying to maintain “The Air Up There”.

As GM seemingly becomes and Afterthought as each Moment goes by, and as more Housing Data is due for the U.S., we certainly have Catalysts for The Dollar to play Its “Rotation Game” back and forth a bit more from Risk Aversion to Appetite… as we have spoken of over the last few Blog Updates.

Let’s check in with The Fiber and The Queen on the Hourly Views… as we can still see the Clear Delineation of Support-and-Resistance Ranges throughout.

Give the Captures a Click for Commentary, and Post-Time is 13:20 GMT… about 10 Minutes Ahead of the NYSE Open, where Equity Futures are Bidding just a bit Higher as of now…

Of course… I will be back with you soon, as the Oil Inventories emerge, as well as the Existing Home Sales looking to have an Impact on The Dollar for our Concerns here… So please feel free to stop by, as always!

Greetings, Everyone and Welcome to Thursday!

Wednesday surely saw The Return ( or for many Currency Units IntraDay… A Continuation… ) of Risk Aversion, as Corrections hit the Global and U.S. Equity Desks and Indices,  and simply continued Correlative behavior by “Bleeding Out” to most Majors and the Yen Crosses.

“CVJ!… Your Two “Safe-Haven Friends”,  The Dollar and The Yen, HAVE NOT left The Building!”, the CVJ Fan Club Guys say.

Hmmm… an actual Observation from the Protest Boys… Amazing!    

( I hear if Barca Football Club loses the Match… The Guys are going to go to Barcelona to set up a  Protest with Francesc, Marina, Noemi, Maud, and all of the FXstreet Gang!… hee hee hee…    

(An Update, Everyone!… Marina informs me that The Barca Won!!!… So Congratulations to Barcelona!… )

In all Seriousness… Let’s get right to the Four Units we spoke of in our earlier Post, so here are the Captures of the Dow, S&P 500, Gold, and Crude Oil.

And… After All…This IS a Blog concerning Currency Trading, right?…  So let’s pull the Fiber, and see where we are on the Hourly View in relation to Dollar Weakness.

“That’s right, CVJ!… Give us Currencies, Man! You and your Inter-Market Analysis!… We may have to Protest YOU!”

Give the Captures a Click for Commentary, and Post-Time is 7:30 GMT.

…And for The CVJ Guys… The Euro !       

The “Currency Majors Technical Perspective” Report is now Published for some IntraDay Detail on the Majors, so please feel free to give it a look as we look for Corrections moving forward right now from the Asian-Pacific Sector into London and Europe!

Welcome to Tuesday, Everyone!

With Risk-Aversion surely looking to continue in the Immediate-Term… the Global Swine Flu Health Rhetoric was deeply digested in the markets Sunday and Monday.

As with most “Major Macro-Events”… once the Markets have them Identified and Processed”, if you will… Price often looks to lead its’ own way and find some semblance of Balance moving forward.

As with All Events, Data, Rhetoric, Criteria, what have you… Uni-Directionality does not continue Indefinitely.

We look now at the slight Consolidating and Easing Factors of most Units moving through the Asian-Pacific Sector  and into our Day today… and what we are finding is Price Behavior and Sentiment looking to “Key and Relevant Levels” within the Units Themselves.

The ECB and Trichet have finally joined the Party with solid Rhetoric on Quantitative Easing in more of a direct manner, and the FOMC comes to the Table as well later in the week.

These two “Major Macro-Events” may keep Price Action somewhat In Check moving forward… although the Markets are surely loaded with Volatility as we have already observed.

We have started the week largely with the Euro, so let’s see where we are with it’s “Inverse Sibling”, USD/CHF… as well as checking in with The Queen and Aussie Yen as well.

Here are the Hourlies of The Swissy and The Queen, and the Daily of the Aussie Yen… as we find “potential” Levels of Retracement in working with these IntraDay Downtrends.

Give the Captures a Click for Commentary, and Post-Time is 3:10 GMT.

As always, please join me for the “Currency Majors Technical Perspective” Report @7:00 GMT in the “Technical Analysis Reports” Tab of the Technical Section!

We will also have plenty of Updates moving forward as we progress throughout our Day!

Greetings once again, Everyone!

Our “Yen Travelers”, The Crosses, have fallen back in their Daily Triangle Formations as can be seen on our Hourly Views from our last Update.

Late to the Party is our “Dear Friend”, Pound Yen!

We see a similar Price-Behavior situation with Pound Yen Daily working in this common “Triangle Formation” of Consolidation as our other Three Crosses… EUR/JPY, AUD/JPY, and NZD/JPY, have done in the Near-Term.

Here is the Daily and Hourly View of Pound Yen… and then we bring the other Three Units on their Hourly Views back into the Picture for observance of Price Depreciation on an IntraDay Basis.

Post-Time is 15:50 GMT.

( I shall keep the exact same Captures here… as Commentary is still valid for our Daily Views here… )

Of course… with the Doldrums entering the markets soon after the London Close at 16:30 GMT… We will certainly check in and see what the Asian-Pacific Sector Opening brings the Yen Behavior moving forward!

Welcome to Thursday, Everyone!

With the Equities Sectors and the Dow and S&P Indices taking hold of Correlating Relations again, we have seen Risk-Averse Behavior rather consistently this week… despite Corrective Price Swings in most Major Units and their Crosses.

The Yen was provided propelled Momentum from recently poor Exports beginning to see increased Outflow Activity… meaning some Recessionary aspects in Japan may be easing in the Near-Term.

We know where the Beloved Queen was heading from our last Update yesterday… and it would not surprise me if her Majesty has “Special Plans” for Alistair Darling… considering the massive Borrowing of 269 Billion Pounds and Tax Increases for the U.K. Citizenry.

( Hee Hee… just being sarcastic… although my good Premium Friend and Trader, “Ray”, may devise a Plan anyway…    

In all seriousness… we can use a few of our “Yen Travelers”… the Yen Crosses… to observe some of this Price Action as these three Units are finding interesting “potential” Set-Ups for  Immediate-Term Views.

Price Behavior is deeply similar on all three Daily Views of the EUR/JPY, AUD/JPY, and the NZD/JPY… so give the Captures a Click for Commentary.

Post-Time is early evening for me at 2: 15 GMT.

As always… I will be back with you for an Update as we move into the Asian/London Overlap to see if we are any closer to these Opportunities coming to Fruition… so let’s meet again after the “Currency Majors Technical Perspective” Report around 7:00 GMT to see where we are!

( P.S. - The Update Time is 8:05 GMT, and we have no significant development with our Triangle Formations on these Units… so we will check in later in the Session as European Volume comes into View… )

Greetings again, Everyone!

We look to the continued Downside Price Behavior in the Immediate-Term with our Pacific Dollar Friends and their Crosses moving forward, as we get closer to Key Levels illustrated in our last Post…. we will revisit them in our next Update.

In the Interim, the “Battle of the Channel” continues with Euro and The Queen swimming in the English Channel with the Euro out in front… but capped and held at the .8910’s Dynamic Resistance Area for now.

Overall, the Euro and Pound are both significantly weak against both the Dollar and the Yen, as concerns for deeper Unemployment in the U.K. among other aspects… and “Rhetoric” of a potential .25 basis-point Cut out of the ECB has both Units “feeling the heat” to begin the week.

Here is the Hourly of EUR/GBP to get a look at where we are, so give the Capture a Click for Commentary… and Post-Time is 11:30 GMT.

I shall return after the NYSE Open… to see where Equities come into View considering Dow Futures are down the start the week.