Japan & Korea Archives - Page 24 of 31

June 21, 2012

Forex: Europe, Australia, Canada, South Africa and Japan

The Euro is testing its new resistance level at $1.26. Respect would offer a target of $1.17*. Bullish divergence on 63-day Twiggs Momentum, however, warns that the down-trend is weakening; recovery above zero would suggest reversal to a primary up-trend. Breach of the descending trendline would strengthen the signal.

EUR/USD

* Target calculation: 1.26 – ( 1.35 – 1.26 ) = 1.17

Pound Sterling displays a strong up-trend against the euro, again testing resistance at €1.25. Breakout would signal an advance to €1.30*. 63-Day Twiggs Momentum oscillating high above zero indicates trend strength.

GBP/USD

* Target calculation: 1.26 + ( 1.26 – 1.22 ) = 1.30

The Greenback has corrected sharply against the Japanese Yen before finding medium-term support at ¥78. Recovery above ¥80 (and the descending trendline) would indicate that the correction is over, while breach of support would test primary support at ¥75.50/76.50. The long-term bullish divergence on 63-Day Twiggs Momentum continues to warn of reversal to an up-trend.

USD/JPY

* Target calculation: 84 + ( 84 – 78 ) = 90

Sharply falling crude oil prices have weakened Canada’s Loonie relative to the Aussie Dollar. Against the greenback, the Loonie bounced of short-term support at $0.96 but this is unlikely to last and we should expect a test of primary support at $0.94/0.95. A 63-day Twiggs Momentum peak below zero would warn of a primary down-trend.

Canadian Dollar

* Target calculation: 0.96 – ( 0.98 – 0.96 ) = 0.94

The Aussie Dollar lifted along with commodity prices and is headed for a test of $1.02 (USD). Upward breakout would signal an advance to $1.08, while respect of resistance (and the descending trendline) would warn of a decline to $0.90*. A 63-day Twiggs Momentum peak below zero would strengthen the bear signal.

Aussie Dollar

* Target calculation: 0.96 – ( 1.02 – 0.96 ) = 0.90

The Aussie Dollar is headed for a test of resistance at R8.50 (South African Rand). Breakout would offer a target of R9.00*. Reversal of 63-Day Twiggs Momentum below zero, however, would warn of a primary down-trend.

Aussie Dollar/South African Rand

* Target calculation: 8.50 + ( 8.50 – 8.00 ) = 9.00

Colin Twiggs

Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters.

Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.

Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008/2009 and 2020 bear markets well ahead of actual events.
He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.

June 17, 2012

Asia-Pacific stocks surge on Greek election results

ASX 200 Index is testing resistance at 4120 after Greek voters narrowly favored the New Democracy party in Sunday’s election — meaning that Greece is likely to remain in the euro-zone. Bullish divergence on 21-day Twiggs Money Flow indicates medium term buying pressure — following breach of the descending trendline suggested that the correction was over. Follow-through above 4150 would strengthen the signal, offering a target of the May high at 4450.

ASX 200 Index

Dow Jones South Korea Index respected support at 402. Breakout above 420 would confirm that the down-trend is over. Recovery of 63-day Twiggs Momentum above zero would strengthen the signal.

Dow Jones South Korea Index

Dow Jones Japan Index is testing the descending trendline and short-term resistance at 49. 63-Day Twiggs Momentum still reflects a primary down-trend, but breach of the descending trendline would warn that a bottom is forming.

Dow Jones Japan Index

Dow Jones Hong Kong Index is testing medium-term resistance at 388. Breach of the descending trendline warns that a bottom is forming. Upward breakout would indicate a rally to 440. Recovery of 63-day Twiggs Momentum above zero would strengthen the signal.

Dow Jones Hong Kong Index

Colin Twiggs

Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.

May 24, 2012

Forex: Japanese Yen

The US Dollar broke support at ¥80 Japanese Yen and is now at the 61.8% Fibonacci level. Failure of short-term support at ¥79 would indicate another test of primary support at ¥76. The long-term bearish divergence on 63-day Twiggs Momentum continues, however, and a trough above zero would indicate a fresh primary advance. Breakout above ¥84 would confirm.

USD/Japanese Yen

* Target calculation: 84 + ( 84 – 80 ) = 88

Colin Twiggs

Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.

May 22, 2012

Japan & South Korea

Japan’s Nikkei 225 Index is headed for a test of primary support at 8000 after breaking both support at 9000 and the rising trendline. 13-Week Twiggs Money Flow below zero warns of long-term selling pressure. Breach of 8000 would resume the primary down-trend, offering a long-term target of 6000*.

Nikkei 225 Index

* Target calculation: 8000 – ( 10000 – 8000 ) = 6000

Dow Jones South Korea Index is retracing to test resistance at 425 after a sharp fall below the rising trendline. Reversal of 63-day Twiggs Momentum below zero warns of a primary down-trend. Failure of primary support at 380 would confirm, signaling a decline to the 2011 low of 350.

Dow Jones South Korea Index

Colin Twiggs

Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.

May 17, 2012

Forex: Japanese Yen

The US Dollar found support at ¥80 Japanese Yen. A 63-day Twiggs Momentum trough high above zero would indicate a strong up-trend. Recovery above the declining trendline and resistance at ¥82 would strengthen the signal. Failure of support is unlikely but would test primary support at ¥76.

USD/Japanese Yen

* Target calculation: 84 + ( 84 – 80 ) = 88

Colin Twiggs

Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.

May 15, 2012

Japan & South Korea

Dow Jones Japan Index is headed for a test of primary support at 47. Reversal of 13-week Twiggs Money Flow below zero warns of long-term selling pressure. Failure of support would resume the primary down-trend, offering a target of 38*.

Dow Jones Japan Index

* Target calculation: 48 – ( 58 – 48 ) = 38

Dow Jones South Korea Index reflects stronger support on 13-week Twiggs Money Flow, but reversal of 63-day Twiggs Momentum below zero would still warn of a primary down-trend. Failure of primary support at 380 would confirm.

Dow Jones South Korea Index

Colin Twiggs

Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.

May 9, 2012

Forex: US Dollar/Japanese Yen

The US dollar is testing long-term support at ¥80. Failure would warn of weakness in the primary up-trend but 63-Day Twiggs Momentum holding above zero suggests continuation. Recovery above ¥82 would indicate a fresh primary advance, with a target of ¥90*.

US Dollar/ Japanese Yen

* Target calculation: 85 + ( 85 – 80 ) = 90

Colin Twiggs

Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.

May 3, 2012

Forex: US Dollar/Yen

The US dollar is testing long-term support at ¥80. Failure would warn of weakness in the primary up-trend, while respect would indicate a primary advance to ¥90. 63-Day Twiggs Momentum holding above zero suggests continuation of the primary trend.

US Dollar/ Japanese Yen

* Target calculation: 85 + ( 85 – 80 ) = 90

Colin Twiggs

Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.

May 1, 2012

Japan & South Korea

Japan’s Nikkei 225 is consolidating between 9400 and 9700. Declining 21-day Twiggs Money Flow warns of selling pressure. Breakout below 9400 would test 9000. Recovery above 9700 is less likely but would indicate the start of another primary advance.

Nikkei 225 Index

The Seoul Composite Index is testing support at 1950. Respect would confirm the primary up-trend, offering a target of 2150*. Respect of the zero line by 63-day Twiggs Momentum would strengthen the signal.

Seoul Composite Index

* Target calculation: 1950+ ( 1950 – 1750 ) = 2150

Colin Twiggs

Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.

April 26, 2012

Forex: Japanese Yen

The greenback is consolidating between ¥80 and ¥82 against the Japanese Yen. Recovery above ¥82 would indicate a fresh primary advance, with a target of ¥90*. Respect of zero by 63-day Twiggs Momentum would confirm a strong primary up-trend.

USD/Japanese Yen

* Target calculation: 85 + ( 85 – 80 ) = 90

Colin Twiggs

Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.