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Strategies & Market Trends : John Pitera's Market Laboratory
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To: Stoctrash who wrote (12344)4/22/2009 1:48:20 AM
From: John Pitera  Read Replies (2) of 33421
 
Hi Trash, Looking at the EUR/JPY charts we have one of the best set ups in terms of the EUR/JPY being on a 4 panel sell signal in here. The daily EUR/JPY, the 60 minute EUR/JPY and the 30 minute EUR/JPY are all set up registering a sell signal on the EUR. Even the short term 5 minute charts look ready to roll back over.

This is based on MACD systems on all 4 of the above time periods and also 5 and 21 period exponential moving average cross over systems on the EUR/JPY cross rate.

The EUR/JPY cross rate remains 'uber" important in that global asset managers use it to move out of "Alpha rich" asset classes and higher yield /risk investments when the EUR/JPY is in sell mode.

Conversely, they move into higher yield asset classes when they EUR/JPY cross is increasing.

The EUR/JPY daily MACD was in solid buy mode from Jan 30th to March 30th of 2009...that meant it was time to be getting longer risker equity and yield asset classes. The plunge in the daily cross on 3/30/09 was then helping to set up the reversal we experienced going into the high on 04/07/09.

The USD is on a sell daily sell signal against the JPY currently as is the GBP sterling against the USD. We should see some global pulling in of risk profiles during the coming few weeks.

John
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