finitemonk

USDJPY & Market Mechanisms

FX:USDJPY   U.S. Dollar/Japanese Yen
109 4 0
Just a visual observation: isn't that quite a weight for one candle?
The lines, joining candlewick price points ... Looking at the angles one can 'type' behaviour. It's gotten rather steep.
I think it good practice to observe forex markets in tandem with others, say precious metals, crude, key indices etc.
Crude and silver             are both up again & gold             is currently jiggling below / nudging at key resistance.
I refer to these as market mechanisms, they work in tandem, like an undulating symphony             of players.
With stocks weakening a further jump in gold             to say 1317 or above might be just enough of a tip ...
Maybe not today ...
absolutely
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Watching the Euro support ... Hold or break?
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all markets and currency pairs (directly or indirectly) are linked to the USD and act accordingly
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And vice versa ... And sometimes there are tipping points.
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