7/30 Forex

• Bear signal in U.S. dollar trading against the Japanese yen.

	pps	pps open	upper pivot	lower pivot
EUR/USD US$1.3033		US$1.2878 jul26	US$1.2510	US$1.1602
USD/JPY¥86.67		¥86.78 jul30	¥91.49	¥85.29
GBP/USD US$1.5670		US$1.5258 jul23	US$1.5266	US$1.4021
EUR/JPY ¥112.97		¥112.87 jul27	¥112.46	¥103.05
USD/CAD C$1.0307		C$1.0488 jul22	C$1.1024	C$1.0291
USD/MXN Mex$12.63768		Mex$12.8693 jul22	Mex$13.4288	Mex$12.6637

The USD/JPY signal appeared and disappeared repeatedly on Thursday, before ending the day in a state of non-existence.

News reports attribute the dollar's decline to Friday morning's report of slowing GDP growth, but if that's the case, the trader's were acting on negative expectations days before the report was released.

The pair has declined three days running, and of course the initial intermittent bear phase came the day before the report.

The analysis uses the daily Person's Proprietary Signal, developed by John Person, and the monthly Person's Pivot, which he also developed.

These are black box signals -- the "proprietary" means that Mr. Person knows how they work under the hood, and I don't. But they have shown a fair degree of success in identifying good entry and exit points, and I find them useful.

On the glance, "pps open" means the price at the start of trading in the United States on the day the signal appeared.

Disclaimer

Tim Bovee, Private Trader tracks the trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.


No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decision decisions for his or her own account, and take responsibility for the consequences.