USDJPY - BEAR TREND DIGESTION

The USDJPY slipped lower but could not extend.

9562 is today's Inflection Pivot. Expect the MKT to have a sell strength bias against here. A breach of this resistance signals a neutral shift with 9690 and 9772 the upper consolidation parameters.


USDJPY for JULY 8, 2009




9445-9433 is the price band supporting any weakness today if we are in for a digestive session. A held failure here is a fresh negative signal putting the 9326 and 9255 support targets back in play.

Note Tuesday's Price Map action for the USDJPY, as it traded within the 9546 and 9471 parameters from Monday's post.



USDJPY

The Price Map chart overlay is available in Ninja Trader, Strategy Runner and eSignal and is a powerful trading tool that puts structure to random MKT action. If you are currently using either of these platform and would like to test drive the application please contact me, info@jsservices.com .

JS

* Below are the Price Map chart overlay results for the FOREX majors for Tuesday July 7, 2009

USDCHF

USDCAD

EURUSD

AUDUSD

GBPUSD

For more information please visit http://www.jsservices.com/.The Inflection Pivot levels are available as a chart overlay on the following platforms; Ninja trader, Strategy Runner and eSignal. Sign up for a Complimentary Trial.

USDJPY - Negative Signal needs confirmation

The USDJPY is flirting with a negative shift in sentiment and will maintain this posture below the 9621 Inflection Pivot. This is the high point for any buying today if the negative signal is going to follow through and the best entry for any short position. Look for FADE opportunities as any test of resistance is expected to be met with a sharp rebuke. A held violation of 9627-9621 negates the negative signal putting the MKT back into a difficult digestive trade up to 9884 on any positive shift in sentiment.





A break under 9471 is needed to confirm Monday's signal targeting 9321 on any negative follow through. The MKT is having trouble sustaining any new move and this is not expected to change. Expect stop and go conditions with 9130 the release low point for any unwinding.

9546 will act as a good pivotal level within the 9621- 9471 digestive range.


JS



This commentary supports JS Services Strategy Based Trading approach. For more information please contact me at info@jsservices.com. You can also visit http://www.jsservices.com/.The Inflection Pivot levels are available as a chart overlay on the following platforms; Ninja trader, Strategy Runner and eSignal. Sign up for a Complimentary Trial.