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Consistent forecasting of price movement in today's Forex market is a forgotten art
that requires a deep understanding of price structure and development. The Daily
Forecaster is a comprehensive report that guides traders through the trading day
and is based on an integrated blend of techniques perfected by veteran analyst Ian
Copsey. Based on the techniques described in his popular book "Integrated
Technical Analysis" (published John Wiley and Sons.) Ian provides his unique and
insightful 9 page daily report to a wide range of traders which currently includes
hedge funds to banks and retail traders. Take a free trial to see why so many traders
rely on his unique analysis.
DAILY ANALYSIS FOR USDJPY
Posted 10-31-2008 at 05:35 AM by FX-Forecaster.com
Bias: While 99.05-13 caps I look for a break below 97.40 to extend losses to 96.56 and probably 95.93
There was no break of 97.40 but also not of the 99.13 resistance. Thus while this remains the case I suspect that the strong risk today is lower. We shall need to see a break below 97.40-74 and once this occurs look for losses to extend down to 96.56 at least but I feel the great chance is for stronger losses to 95.93. Take care there as we could see a correction. Below 95.93 sees next support at 95.29 and then all the way down at 94.24 and 93.82-03.
For full analysis please open today's full report in PDF format.
There was no break of 97.40 but also not of the 99.13 resistance. Thus while this remains the case I suspect that the strong risk today is lower. We shall need to see a break below 97.40-74 and once this occurs look for losses to extend down to 96.56 at least but I feel the great chance is for stronger losses to 95.93. Take care there as we could see a correction. Below 95.93 sees next support at 95.29 and then all the way down at 94.24 and 93.82-03.
For full analysis please open today's full report in PDF format.
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