FxLester

FxLester

By bulls, I mean the BoJ LOL! Fundamentals in a nutshell : The Japanese economy has shown weak growth which is hurting Yen exports. Thus the BoJ is under increasingly strong pressure to adopt further easing measures. This is especially made more plausible in the milieu of the BoJ warning that it would intervene to curb further climbs in the Yen.

FxLester

Technical analysis details on the chart. Fundamentally I'm waiting for the RBA meeting minutes this week to offer clues on further easing prospects. Upcoming weeks will see traders question the logic behind the RBA's surprise reduction of the cash rate to a record 1.75 percent. This unprecedented move either signals the start of longer term easing or may be a...

FxLester

I see $48.x as an important level in this market. I favour a break to the downsize in the next week. I will be also prepared to go long if price breaks out to the upside, can close above the level and pull back. The Price Action Story: A few things give a bearish bias in the short term. 1. Price action shows a medium term descending trend line. 2. Double top...