CajunXChange

CajunXChange

Will bullishness continue or will the Triffen dilemma hold? Must trade >93 to even consider sustained run

CajunXChange

9/26/14: This pair touches 50sma on 260 for 1st time since beginning of bullish run last month. Japanese CPI data came in line with the consensus view. This week put in the top for this pair imho. Everything is lining up for major pullback: FUNDAMENTALS 1) 2yr mark since 1st arrow of Abenomics, ushering in unprecedented monetary policy to combat deflation 2) FED...

CajunXChange

Respecting the fork! Basically nails top. I was just fiddling around and noticed this. I'm not saying this is the beginning of a downturn but must respect the median, and particularly, the 100 day sma on daily which has been the signal to BTFD. Strong support ~1900

CajunXChange

USDJPY is running into a multi-year trendline as resistance. Pitchfork intersects with trendline ~108 with RSI over 70. Remember what Kuroda said years ago. As long as its trading >100, there are no worries. On the other hand, Japanese exporters are getting squeezed at 94, but at the same time, energy import costs are hurting. They are walking a tight line and...

CajunXChange

1930 critical support. Ugly looking candles forming at 50 fib

CajunXChange

1.618 Fib extension from 1st drive (09-10) comes in ~17200, basically nailing recent top. A trendline connecting the high from 2001-2007 coincides with major support on the weekly 50sma ~16200. It will take time, but if this support breaks, I think we will eventually pull back to around the highs of 2007. This will be a brilliant plan by the Fed if the theory of...