USD.JPY

**arco** · 27-05-2005, 09:19 AM

Miner

Always a diffcult point in the action.

Basically we are trying to pick the top using TA
techniques instead of jumping on to a confirmed trend
and missing 30%+/- of the move. When it works, its
fantastic and we can enjoy the extra cream.
However it can be a dangerous game requiring nerves of
steel and is not suitable for people with a history
of loose bowel movements

See Chit Chat thread re USD bull/bear possibilities.

PS.
I think you mean resistance (not support).

arco

**miner** · 27-05-2005, 09:31 AM

Ta Arco might have been to early in the morning for me[|)],was thinking 10784 was ress when below, it is now above so it may become supp?,or still to early for me

.

Cheers
Miner

**arco** · 27-05-2005, 09:55 AM

Miner

This is the basic principle...

When old support converts to new resistance or
when old resistance converts to new support we
get a change of polarity.

The resistance/support has to be broken and tested, as
in this diagram.

arco

**miner** · 27-05-2005, 10:04 AM

[8D]Ta.

**arco** · 31-05-2005, 01:04 PM

Yen May Gain Against Dollar, Euro on Signs Japanese Economy Is Recovering

May 31 (Bloomberg) -- The yen may gain versus the dollar and euro today after economic reports showed Japan's jobless rate fell to the lowest in more than six years and household spending rose.

The reports improve prospects for a recovery in the world's second-biggest economy. The unemployment rate fell to 4.4 percent in April from 4.5 percent the previous month, the lowest since December 1998. Spending by households headed by salaried workers increased 3.6 percent from March, the first gain in three months.

``There are a number of reasons why you'd be supportive of the yen,'' said Greg Gibbs, senior currency strategist at RBC Capital Markets in Sydney. ``The numbers out of Japan have been looking a lot better.''

The yen traded at 107.99 per dollar as of 9:05 a.m. in Tokyo from 108.0 before the reports were released and late yesterday in Asia, according to electronic foreign exchange trading system EBS. It gained to 134.66 versus the euro, from 134.80 earlier.

The currency last week halted a three-week decline after government reports showed retail sales and exports rose more than expected. The yen is down 4.9 percent this year on signs growth in the U.S. is outpacing that of Japan.

The yen yesterday drew support after a government report showed Japan's industrial output gained more than expected in April, after declining the previous two months.

http://www.bloomberg.com/news/markets/currencies.html

**arco** · 07-06-2005, 11:35 AM

I was a bit early on this for the reversal, but
the action now has moved in the direction I expected.

Closed 10689....expecting some support to come in
circa 10625

**Xerof** · 29-06-2005, 01:32 PM

Fly me to the moon.....humming the rest, but it was an Andy Williams song (for you young bucks out there) Andy who? you're saying - well exactly really

This one looks like its about to catch an explosive ride north towards 113 - emphasis on looks - in wave(iii) of 3 of C ?

The break of 109.70 looks encouraging.

Do the experts agree with that count (<s>hourly</s>daily chart)

Xerof