- No new signals on the currency pairs that I follow.
- Note that the yen has recovered almost all of the weakening produced by the Bank of Japan's intervention on Sept. 15.
|pps||pps open||upper pivot||lower pivot|
|EUR/USD US$1.36||US$1.35 sep13||US$1.31||US$1.24|
|GBP/USD US$1.58||US$1.54 sep8||US$1.58||US$1.51|
|EUR/JPY ¥114||¥112.22 sep14||¥108||¥103|
|USD/CAD C$1.03||C$1.03 sep24||C$1.09||C$1.03|
|USD/MXN M$12.47||M$13.07 sep2||M$13.50||M$12.72|
The Japanese economy has historically hated the strong yen because it makes the country's exports more expensive. And Japan's economy is driven by exports.
But, as the government has learned yet again, the strong yen is the Borg of currencies: Resistance is futile.
It is interesting to note that the yen has weakened against the euro and remains weak. The yen has a dollar problem, not a general global currencies problem.
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.
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.