The Intellectual Challenge

Good Morning Dynamic Traders!

Dynamic Traders will be aware that the importance of psychological success in trading vastly outweighs the same of technical mastery.

Having spent time away from the market, I expected subconscious challenges before resuming the flow of trade activation.

Equipped with this knowledge, I have quietly observed the (news laden) market since Monday, warming my senses to the opportunities as they become available.

Let's commence "play" once again easing ourselves into the home strait before Christmas closes in.

Below is the weekly chart for the USDJPY.

Note that price hit the marked figure of 90 (BLOG DEC 1) and is temptingly venturing into relatively unknown territory.
It is of significant value to observe that the current price band being entered was last seen over a decade ago! Yet, given the unprecedented market conditions, it is hardly a surprise.

Record the historical support area at 85 and 80 thereafter.

A calculated speculation could indicate further strength from the Yen, against our main contenders, as we head into 2009.


USDJPY weekly chart Advanced Get

The 4 hour chart (below) shows price hesitating at another firm support level. Fib studies on differing time frames, along with our mentors unique sub chart studies, indicate that the current downward assault may be sensing some exhaustion.

The smaller time frames will furnish you with further clues.

Your binoculars should be focussed on the clear support. Should we conclusively break this horizontal, we may be heading towards a healthy swing towards and into the New Year!

USD JPY 4 hour chart Advanced Get

Good Trading!

Saba Jackson