UPDATE: As of May 08,Thursday 10:10: USDJPY trade position settled with the USD Index registered a low @78.90bp (objective High-lighted below near 78.80) @101.58.
A price reversal on comments from ECB Mario Draghi open to Intervention
has drag the EURUSD another pullback from the high. Again, adding to lower US
jobless claims supported the USD lift. Caution: price action coming from
European side and watch succeeding US reports.
As of May 05, 2014
The volatile price action from last Friday's report on the Jobs data that pushed the USDJPY to as high as 103.00 was indeed a great chance to time an entry that we have anticipated would pullback at the end of a short trading time frame. However, the expectations where beyond the price action declining to 102.10 levels.
Much of sudden price in either direction from a limited trading hours have been considered. In fact, the corresponding DXY push to 79.92 and resisted near its bench mark @80.05/10 after the Jobs data was within a small window of one and half hours before it started declining before the closing of trading session. And a probable spill-over in the Asian trading session towards the European sessions would prove to be likely to occur than a USD or USDJPY recovery. USD sell pressure has been kept hanging in the market due to the underlying weaknesses of the Jobs data and Fed stance on monetary policy with Janet Yellen speaking this coming week would again be a catalyst to market price volatility.As of May 05, 2014
The volatile price action from last Friday's report on the Jobs data that pushed the USDJPY to as high as 103.00 was indeed a great chance to time an entry that we have anticipated would pullback at the end of a short trading time frame. However, the expectations where beyond the price action declining to 102.10 levels.
MegaTrade101.com - The Art of Trading the Foreign Exchange Market with Confidence - Spot.Check: USDJPY
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