• Home
  • Prop trading & Education
  • Disclaimer
  • Fxigor Twitter

FxIgor Trading Team

Forex technical analysis and best broker reviews and news.

Trading made simple

Yen decline in forex market

December 27, 2012 by FxIgor

This text is from blog famous currency strategist Joel Kruger .
THE INCREDIBLE SHRINKING YEN – So far, the week has been mostly quiet, with markets deferring to some consolidation. The one exception of course, has been the Yen, which continues to extend broad based declines. A new government, with a mandate of aggressive monetary easing and fiscal stimulus has been the primary driver of the sell-off, while some longer-term cyclical studies have also been warning of this Yen decline for some time.
See daily forex technical analysis vide made by Joel:

IGNORE DAILY TECHNICALS – Short-term, many traders might be looking for some corrective Yen buying, with the latest moves highly overextended. But the reality is that the Yen could very well continue to show additional weakness into year end. My feeling is that we still could see a move in USD/JPY into the 88.00 area before any legitimate pullback.

KEY LEVELS TO WATCH – Elsewhere, it is probably best to just keep an eye on EUR/USD price action. A daily close above 1.3250 would likely cancel hopes for an aggressive US Dollar rally into year end, while back under 1.3200 will keep the USD rally prospects intact. Finally, for those of you focused on AUD/USD, next key support comes in at 1.0285, and a break below would be required to open a fresh downside extension towards parity.

Related posts:

  1. Commodity bloc – AUD/USD and NZD/USD will accelerate decline
  2. EUR/USD important price level 1.3 – forex market in consolidation
  3. Some wild moves in the market following the latest Fed action
  4. Bullish Euro Outlook Back on track – forex market volatility
  5. Plenty of room for USD strength in forex market
  6. Retracement back to Wednesday’s closing levels in forex market
  7. Risk rally in forex market because re-election of President Obama
  8. Should we see another EUR topside failure on Friday in forex market?

Filed Under: Joel Kruger oppinion

About FxIgor

I am forex trader from 2009. and I am making autotrading systems using Metatrader EA. In this blog I will share my thoughts about daily forex traders, market forexcast, top forex brokers.

Make the trade

Search all forex articles

Categories

  • Binary options
    • Anyoption Review
    • Ubinary Review
  • Forex
    • Forex affiliate programs
      • Avapartner
      • Hotforex partner
    • Forex brokers reviews
      • 4XP broker Review
      • AAAfx Zulutrade Review
      • Alpari NZ Limited Review
      • Alpari UK Review
      • Avatrade Review
      • CMTrading Broker Review
      • Deltastock Forex Broker Review
      • Dukascopy forex broker
      • Dukascopy Fx Review
      • EasyMarkets review
      • ETX Capital
      • ETX Capital review
      • Exness Review
      • EXT Review
      • Forex.com
      • Forex4you Review
      • ForexYard Review
      • FXCM
      • FXDD Review
      • FXOpen Broker
      • Fxpro
      • Hotforex Review
      • HY Markets Review
      • iforex Review
      • Instaforex Review
      • Ironfx Review
      • Liteforex
      • London Capital Group
      • Marketiva forex broker
      • Markets.com
      • Nordfx
      • Pepperstone Review
      • Plus500
      • Roboforex
      • Swissquote Bank
      • UFX Markets
      • Windsor brokers
      • XeMarkets
      • Xtrade
    • Forex market review
      • Joel Kruger oppinion
  • Forex education
    • Forex indicators
    • Learn forex terms
    • Statistical arbitrage
    • Tips
  • Forex Expert Advisor
  • Forex payment method
    • Skrill
  • Promotions
  • Stocks
    • Equities of interest

Latest top forex brokers review

  • Alpari NZ Review
  • Avatrade Review
  • Alpari UK Review
  • Etoro Review
  • Fxopen Review
  • Aaafx Zulutrade Review
  • Hotforex Review
  • Fxpro Review
  • Instaforex Review
  • Xemarkets review
  • Markets.com review
  • Thinkforex Review
  • Ufxmarkets Review

Main forex sections

  • Home

Forex traders tools

  • Forex contests list

Forex Social network

  • Forex Twitter
Fxigor Copyright - 2010