AUDJPY settings of Trade Forex commentary: inside bar and Intraday GBPUSD installation 9-21-10

Posted on September 22, 2010

AUDJPY:

The internal AUDJPY formed a bullish/pin bar today in line with current bullish momentum in this market.

Since there isn't much in terms of resistance to around 83.50, this inside bar installation may provide a nice risk to reward ratio for merchants.

GBPUSD:

The GBPUSD internal format/pin bar setup broad support at 1.4 5,600 today the 4 hour chart. this installation because it came up as expected. Note the power of price action Setup forming significant levels in the market.

graph 4 hours:

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Comment:

The yen weakened US dollar and Japanese today as risk appetite has improved in the Forex market.

Euro filmed substantially higher than the dollar and the daily is pushing up close to high since mid-2008 near 0.9850.

The Dow Rose 7.41 points or 0.07%, S & P 500 lost points 2.93 or 0.26% and the Nasdaq lost points 6.48 or 0.28%.