Forex – Longer Term JPY Charts

First of all, I’d like to make it perfectly clear that I have no idea how I will trade this coming week and can offer no “trading” charts. So in the interests of sharing here are some longer term charts that stood out for me this weekend.

The charts are of four “risk” currencies against the Japanese Yen.  The Yen is still seen as a major safe haven currency and it just keeps getting stronger. The past week saw another expensive and failed intervention attempt. With US downgrade and the markets on edge, it seems too much of a coincidence that the following charts are all sitting on longer term rising support lines. Japan has openly admitted it will intervene again so can we assume the support lines will hold? Of course not, assume nothing.

BUT, if there is coordinated G7 action, these charts will rise.

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AUD/JPY Weekly

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CAD/JPY Weekly

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EUR/JPY Weekly

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GBP/JPY Weekly

10c

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