Top Global Market Stories
The dollar fell sharply against the yen on Thursday after investors reacted to Fed Chairman Ben Bernanke’s comments about potential tapering of the Fed’s bond-buying program, by selling U.S. Treasuries, which in turn caused yields of 10-year Japanese government bonds to rise to 1% before falling back later in the trading session. The volatility in [...]
Top Trade Ideas
So you missed the USD/JPY low? What now? The uptrend on the USD/JPY is still intact and yes there is a near-term top, and there will have to be this top that precedes a pullback so why is this top being treated as THE top in certain circles? Because (some) bulls view any dramatic pullback [...]
By Ilya Spivak
Prices declined as expected after putting in a Shooting Star candlestick below resistance at the top of a rising channel set from mid-March. Sellers are now testing support at 1.5029, the 38.2% Fibonacci expansion, with a break below that targeting the 50% level at 1.4850. We continue tohold short, Near-term falling channel resistance is at 1.5207, with a above that aiming for the May 16 high at 1.5322.