USDJPY - Negtive Signal Needs Confirmation

FOREX - USDJPY


The USDJPY cross produced a negative signal and is flirting with a negative shift. 9482 is the Inflection Pivot keeping the signal in play down to the 9405 support. If the MKT is going to stabilize it will here. A held failure confirms the negative signal targeting 9251 on any downside follow through. Expect a reaction. 9116 is the lower extreme.



If the negative signal is valid the MKT will close lower and at some point in the session take out yesterday's low at 9403. A rise above 9482 puts the signal in question with 9562 the high point for any reversal of fortune. Although a reaction is expected trading at these levels is expected to be erratic with 9719 the high point for any false hope . No follow through is expected.

JS

This post 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.

GOLD - Losing Luster

The AUG'09 GOLD contract is slipping lower, currently pressing good directional support at 933.8-931.6. If the MKT is going to stabilize it will here for a bounce back up to the 947 Inflection Pivot. If not the negative sentiment is set to overwhelm the MKT targeting 893.1 on any downside shift. Use caution. This break does have the potential to extend to 850.




The 947 Inflection Pivot that will gauge the MKTs tone for the current corrective shift. Below here the contract is hard pressed into support. Above this point the positive momentum will try to re-establish itself, targeting 996.2. A violation of 962.5 is needed to confirm any new push north. Be patient. No follow through is expected.



JS



This post 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.