9/22 Forex

• USD/JPY pair moves to bear phase.

	pps	pps open	upper pivot	lower pivot
EUR/USD US$1.34		US$1.27 sep13	US$1.31	US$1.24
USD/JPY¥84.50		¥85.08 sep22	¥86.06	¥82.82
GBP/USD US$1.57		US$1.54 sep8	US$1.58	US$1.51
EUR/JPY ¥113.46		¥112.22 sep14	¥108.43	¥103.21
USD/CAD C$1.02		C$1.07 sep1	C$1.09	C$1.03
USD/MXN M$12.66		M$13.07 sep2	M$13.50	M$12.72

The USD/JPY bear signal apparently marks the end (reduction?) of intervention in currency markets by Bank of Japan. The price dropped below the monthly midline on the Person’s chart.

The preceding bull phase, which began with the BoJ intervention, lasted five market days and saw the price rise by 2.5%. However, all of that rise came overnight on Sept. 14-15, before the stock markets opened in the United States. So only sleep-deprived U.S.-based traders saw the full benefit of the bull phase.

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.