Tuesday, September 28, 2010
09/28/2010 EUR/JPY 5m Day's Activity and Next Open Impressions
Activity focused around 300 EMA on 5m chart. Opened below, -22 pips, and rebounded for 19 pips @ 9pm. Broke up @ 10:50pm for 13 pips. Broke down @ 1:30am, stuttered @ 300 EMA, and continued down for 68 pips. 100 EMA & 300 EMA had been closely entwined until previous break down. Break up on 100 EMA @ 2:25 AM for 36 pips. Rebounded up twice through 300 EMA on the 100 EMA. Broke down on 100 EMA @ 10:30AM for spike down of 34 pips, failed to close significantly far past 100 EMA ( <20 pips on 6 candles, and played on previous day's low). After spike and 100 EMA flirt, broke 100 & 300 EMA for 70 pips. Currently, PA still above 100 & 300 EMAs. Expecting test @ next open (8:00PM EST).