Small candlebody for USDJPY and Choppy week ahead

Posted by Siwei at 12:07 PM Monday, August 3, 2009

Hi all,

this week we have a couple of important news coming out. Do note them down in your trading calendar and be wary of market conditions before and after the news are released. Take for example the interest rate announcements by the BOE and ECB on Thursdays and the Non-farm payroll on friday, these scheduled announcements will affect the market volatility and make it a bit choppy.

Expecting small candlebody for USDJPY today as we ride along the sellers momentum and look for a lower low area with this phase of bearish continuation. If there are not enough sellers, we could be looking at a sideways market or maybe small upclose as USDJPY bounces off the first support level of 94.60.

Regards,
Siwei

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