13::20 GMT - Step back this am. is a bullish test of Fri value; it follows Fri.'s spike test of 103.50 which easily retained the 103~ breakout. With last week's rise, the USD has moved decisively out of the YTD apex- now a hold above 104.10/ the start-Aprhighs confirms & points further up (to 105.45/ the YTD high.)
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
Monday, August 25, 2014
USD/JPY Daily
13::20 GMT - Step back this am. is a bullish test of Fri value; it follows Fri.'s spike test of 103.50 which easily retained the 103~ breakout. With last week's rise, the USD has moved decisively out of the YTD apex- now a hold above 104.10/ the start-Aprhighs confirms & points further up (to 105.45/ the YTD high.)
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